Craig Wear, CFP® explains strategies to protect heirs from depleting an inheritance and recommends doing conversions earlier to avoid a "widow's trap"—a situation where one spouse dies and leaves the survivor with all assets, potentially leading to depletion. The clip is a short, conversational YouTube video that includes a call-to-action to subscribe.
You want to be able to put your heirs in a position where they're not having to deplete the estate that you left to them. And the other thing that not a lot of people talk about, and it's been pointed out to me that I don't talk about it a lot, is you also avoid, by getting the conversions done sooner rather than later, you're going to avoid the potential of a widow's trap. And the widow's trap is something that we talk about in the financial community, but it's a circumstance where one spouse dies, leaves the other spouse with all the money. If you want to learn more about this or other subjects like this video, I would appreciate that if you'll subscribe to the channel.
