Who Gets My Money If I Don’t Have a Will?
Why your beneficiary designations may matter more than your will—and how to make sure your money goes where you want.
If you died tomorrow without a will, who would actually inherit your money?
You might be surprised to learn that having a will isn't always what determines who receives your assets. In fact, the beneficiary designations you completed years ago could matter more than you realize.
In this episode of She’s Talkin’ Money, Shari Rash explains what happens to your money when you die without a will, how beneficiary designations work, and why the way your accounts are set up can make a significant difference for the people you leave behind.
Using the example of a single woman with $590,000 across retirement accounts, brokerage investments, and savings, Shari breaks down which assets can pass directly to beneficiaries, which may go through probate, and how transfer-on-death (TOD) and payable-on-death (POD) designations can simplify the process.
She also explores a common issue she sees when working with single women: parents who were named as beneficiaries decades ago are still listed today, even when financial circumstances and personal priorities have changed.
You'll also learn why having someone you trust to handle your affairs matters, when a will may still be important, and why planning for incapacity is different from deciding who inherits your money.
The takeaway: You don't necessarily need an elaborate estate plan to make sure your money goes where you want. But you do need to know who is listed on your accounts, how your assets will transfer, and whether those arrangements still reflect your wishes.
If you're ready to make sure all the pieces of your financial life work together, learn more about financial planning with Shari at www.GWAwealth.com
And if you know someone who hasn't reviewed their beneficiaries in years, share this episode with them.
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Keep the conversation going on Instagram @shestalkinmoney https://www.instagram.com/shestalkinmoney/
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