Smart Money Happy Hour with Rachel Cruze and George Kamel - What You Should Do With Your Money Before It’s Too Late

Episode Date: October 23, 2025

💸 Uncover extra cash in your budget with the free Money Finder.   You can’t take it with you when you go . . . but you can leave your loved ones stuck in a financial hot mess. Here’s what really happens to your money after you pass, and what you should do today to prevent money mayhem down the road.    Next Steps: 🎥 Watch our video Stirring the Pot With These Off-Limit Topics. 🍸 Follow Smart Money Happy Hour on TikTok: @smartmoneyhappyhour 📱 Submit a Guilty As Charged question for Rachel and George! Leave us a voicemail with your question at 877-306-1517 or send a DM to @rachelcruze or @georgekamel on Instagram! Be sure to type “GUILTY?” at the top of your message so we don’t miss it.  💵 Create a budget and track expenses with EveryDollar. 💼 Get your finances in order with our Estate Planning Guide.   Connect With Our Sponsors: Check out the FAIRWINDS credit union exclusive account bundle. Get 20% off when you join DeleteMe. Get up to 40% off with code SMARTMONEY at Cozy Earth.   Today’s Happy Hour Special: 🍹Night King Recipe: @SpeakEasierUK  1 ounce lemon juice 1/2 ounce blue curacao 1/2 ounce crème de cacao 2 ounces pisco 1 egg white  Instructions: Combine all ingredients into a cocktail shaker filled with ice. Shake and pour into a glass over ice and enjoy.   Explore More From Ramsey Network: 💡 The Rachel Cruze Show 💰 George Kamel 🎙️ The Ramsey Show 💸 The Ramsey Show Highlights  🧠 The Dr. John Delony Show 🪑 Front Row Seat with Ken Coleman 📈 EntreLeadership   Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Today we're talking about the death box. And no, that's not the name of an undiscovered emo rock band. And yes, it has to do with you and your money. If I was in a coma for six months, once I saw the hospital bill, I would die again. I swear if I have a bad quality photo in that frame, I will come back from the grave. Have you ever pre-claim something from my relatives' house long before they die? Hey guys, I'm Rachel Cruz. I'm George Camel.

And this is Smart Money Happy Hour. Well, this is the show where two friends who have to be many experts talk about what you're talking about. Everything from pop culture, current events, and money. And before we get to the hot content you came here for, let's talk about what we're sipping on. This is called a Night King. Oh, well, hey, King. Spooky. Night King.

My gosh, we do love a King. We're going to give you the rating and reveal the cost per glass at the end of the episode. So stick around for that. But Halloween is upon us, and we are here to gently remind you that we are are all going to die. Thanks, George. And it reminds me of Courtney Kardashian when Kim loses her earring.

And she's like, Cam, there's people dying everywhere. That's a great impression. But do you like our outfits, too? We're very much like in the theme of Halloween. Morning. A little morning, action, because we are going to talk about death.

Yay! It's going to be a... I was recently at a funeral, so I had to buy a new suit. Didn't fit in the old ones. May I ask who passed? Grandma. Your grandmother passed away.

George Wayne. recently? Yeah, just a few months ago. Oh, I'm so... Oh. At the time of this recording. Okay, okay, yeah. I'm so sorry. She had a grateful life. How old was she? She was at 94 or something? That's a great... Great genes you're going to get.

I hope so. And Whitney's side, both, Grandpa, like 99, grandma, 98. So this bodes well. Yes. Y'all are going to do great in life. Thank you for that. You don't have to worry about this episode. I have heard short people live longer. So take that guys who are six feet tall.

Really? Because your body just doesn't have to, like, do as much. I think it's, like, less strain. Yeah, less inflatable, you know, dealership guy. You think about, like, yeah, like your heart pumps blood, and that's a long way to go. But when you're short, they have to travel that much. That has to be the science behind it. That's literally what I thought.

That has to be it. So, to all my short kings out there, no, you will live a good, long, full life. Oh, my gosh. I am so, so glad. Well, I've thought of a lot about death as I became a dad, because it just makes you take stock and go, like, okay, is my family going to be okay? Yeah, I'm responsible now, not just for me. Yeah, the grown woman can hopefully take care of herself.

She's got term life insurance, but there's so much else. I've got to think about now with wills and who's going to take care of the baby and the dogs. So I've been thinking about this more and more. And Whitney was very impressed with me most recently when I created a little game plan. I just created a document of like, here's all the accounts you need to know about. Here's the logins. Here's the numbers. Here's how much is in what.

Here's who to contact. Here's the website. And I mean, she was flabbergasted. Oh, I meant she loved you. More after that, yes. It was, dare I say, romantic. Yes. Hey, I'm not kidding.

To know things are, like, taken care of. And knowing what to do if something or when something happens, it is. It's a big deal. Okay, we've talked about funerals, your few, our funerals on this show before I think. Do you remember wanting a Costco casket? Yes, I still do. You still do. And I find out this is big because a lot of people from funeral homes got mad at me.

Because I think I said, like, funeral homes are a scam, and a lot of good people out there running funeral homes are like, no, we are good people. This is not indeed a scam. I believe that. We are providing a service. For sure. There's a lot involved. So I get that. But they said that they will, like, price match the Costco casket.

So even on my, in my dying deathbed casket. You're still going to get a deal, George. I want a deal. I want to be frugal on the way out, baby. My family's not going to overpay for that casket. Oh, my gosh. Have you thought about your funeral? There are things you like want.

I have more and more because I want it to be fun. And so I don't know if I want like maybe a roast. Like if you show up, I want at least 10 people to get up there and like roast me. I love that. Don't say anything nice. Yeah. You can't. You know, a funny funeral would be like great.

Do you know what I mean? Like when you can have the levity? Like that is a gift. I think that's great. Can I tell you on the way into my grandma's funeral, we got stuck? Just like a line of traffic. Okay. Totally stopped.

I was like stuck in the doorway. What do you mean? Okay. turns out there was another funeral happening and it was a black funeral and it was like a party and the song that they were playing was every breath you take every move you you make i'll be watching you and i was like wait is this what like grandma wanted to be the final song like why are they playing this right uh i'll be because i was like this is either super hilarious or super creepy yes or so great or wonderful because it's right there so i might steal that idea and play that song at my

Gosh, that is so... I like a roast. That's funny. It's very self-aware. That's very you. Thank you. I saw this funny video on Instagram the other day

and it was this girl talking about... This is so bad. She was like, you know, like, on all the dateline 2020s, like, someone gets murdered and they like,

and the friends are on screen. They're like, she was just so wonderful. She would walk in and brighten up a room. Like, everyone wanted to be her friend. She's like, don't say about that about me.

We all know it's not true. I got two friends. It's all I like. And I'm not that happy. So don't be lying on Dateline. If I ever get murdered or something. I want to catch you lying on date line.

I don't know why it made me laugh. I was like, that's so funny. Very self-aware. So I think about that for you. Mine, make sure my nails are done. Oh, okay. What color will we go? It's all I ask.

Can I guess? Let's just go like, let's go a little neutral. Funny Bunny. George. What can I say? I was about to say a little pink. And that's it. I think Funny Bunny's the right tone.

I don't know Funny Bunny from OPI. I don't know what to tell you. I hope Winnie. Shirley. God, tell me. me it's your wife. I don't know a single other nail color, but yes, my wife, my mother-in-law. Bunny Bunny. If they're getting their nails done, it's funny, bunny.

It is, it is that. Oh my gosh, that is so funny. Yeah. There you go, guys. Anyways, that'll be my thing. Get my nails done. And then, yeah, I think a color theme would be fun when I went to the Backstreet Boys a few months ago. Everyone wore white. And there's something really uniting to, like, be in the same color as everybody.

Like a Team Spirit Award. Maybe I should, like, throw out a color. I do love black, but I feel like that's like a little so typical. Right? Like, what's something that kind of like throws everyone off? I don't know, just guys in white suits is not... I'm not going white. No, like a color. But I want everyone to wear the same color. How fun would that be? I do like that. What about like, we're going jewel tones? Yeah, that's good. I love a jewel tone. A winter jewel tone, you know? Like, give them a season.

I guess it depends on when you die. Depending on when I die. That's the color season everyone's going to wear in my funeral. That's so smart, George. I love this. Or very on trends. Oh, I need to tell you about, I don't know if I ever told you about this. the Photoshop debacle with Grandma. So the family, they're like, hey, we need a good picture of Grandma to put in the frame, you know, next to the casket.

So I go, I got plenty of, she was at my wedding. It was the last, like, high quality photo back from 2018. And I got you guys. I couldn't find one where she wasn't, like, with someone. So, like, I have my arm around her, you know? So I was like, can I Photoshop myself out?

So I'm sitting there attempting to Photoshop Grandma, sending the group chat with the, family and the sons and daughters. Yeah. And they're all displeased with my Photoshop job. And I'm lopping arms off, left and right for Grandma. I'm phoning a friend who knows Photoshop better than me.

Finally, my buddy Terran comes through here at Ramsey. Okay. Does an incredible job. Making Grandma look like it was a solo photo, changed the background, like made it look perfect. Wow. Guess what? They cropped it to where you couldn't even see her arms. Oh, no.

So I went, I got to the funeral and I was instantly enraged. I went, oh, my hard work for you to crop it at the wall. What do you mean? Her arms? Like they just kind of like... Like her hands. Because you couldn't see her hands, so I needed to make it like a fake hand for her. Otherwise, the photo would look weird.

Well, they cropped it to where you couldn't even see her hands. Oh, it like, oh, man, a lot of hard work. Yeah. So here's my next thing. Pre-chuse the photo you want at your funeral. That's a big deal. People don't think about it. What headshot do you want to go with?

You want to go with like when you were a little bit younger? Yeah. Or do you want to go like this was the current state I was in? Yes, yes. That's good. Okay. So think about that. I thought you were going to say someone screenshoted the photo and then went to print that.

Have you seen that? And then people have the board of their iPhone. That is the most boomer move. I know. I've seen that moment. I thought that's what's going to happen. Wow. Okay.

So there it is. Pick your playlist. Pick your nail color. Pick the outfits you want. Yeah. I'm so sorry about your Photoshop. That's funny. It was a beautiful photo.

Okay. So when it comes to dying, people have a lot of questions about their money. What happens to my money? That's true. What is going to happen when I die financially? So we're here for y'all. We're going to talk about it. The do's and don'ts of dying, I think namely, which is don't, if you can at all costs.

We'd love for all of you to be alive. We need all the viewers we can get. Well, I can say alive for our egos and our numbers. Thank you. We are going to cover some common FAQs around money after death because it is confusing and more it's interesting. Yes, it is. Well, it's good to know what happens. So let's just start off with the top.

Okay. The basic, George. What happens to your money after you die? Let's say it. One, two, three. Probate. T-T-T-T-T-T-T-T-T-T. So, exciting. That was the most excited anyone's ever been saying that word.

So probate is the legal process in which a court examines a person's will and make sure that the will is legit. So if you have one, which you should, we'll get to that. All debts are paid. That also is going to go through probate. And then the remaining money and property go to the right people. Yes, making sure everyone gets, yes, what they're supposed to. The problem is if you don't have a will, it's just up to the government people and the judge. they go, I think it should go over here.

Yeah. Well, and sometimes, like, just let the family decide, you know, this. And then the family's like, no, this, this was said here, here, and it just gets to do a mess. And it's not just your stuff. It's also like the kids. I mean, if there's kids under 18 and they're not adults, like, what are we going to do over there? And again, my prayer is most of the time you get it worked out, especially with, like, the children. But the problem is, is number one, it takes longer to get everything done.

It's so inefficient. And there is the chance that something goes sideways if it's not really. written down. So yes, having a will clears so much of that. It is so helpful. So helpful. Clarity is what you want. And if you want to know the best place to get it, you can jump on to Mama Bear Legal Forms. We'll drop a link in the description. Hashtag, not a

sponsor of this show, but it's who I use and love. So there you go. Okay, so when you die, yep, everything goes through probate. If you have a will, it's pretty like self-explanatory. It does take some time, some things. And if you don't have a will, again, a lot of hoops to jump through. Exhausting.

But what about your debt, George, What happens to your debt? That's the big question. Because a lot of people think, oh, my gosh, I now will owe the debt that someone else passed. Like my mom had debt, now I have to pay it. That's right. Yeah, they think it gets passed on. Or they might go on the other side and go, well, it's going to die. The debt's going to die with them.

No one's going to ever have to worry about this. Well, here's the deal. Some debts must be paid after death. Some, not so much. But all debts stress you out while you're alive. So I would work to pay that off before you die. We don't know when we're going to die. So let's just go ahead and pay it off now.

Let's start the snowball while. While we're alive and well, everyone, start paying off that debt. Now, here are debts that have to be settled after death. So these do have to be paid. Mortgages, car loans, joint account credit card debts, and co-signed loans. So the family doesn't necessarily inherit the debts, and collectors can't make relatives pay off the balances that aren't theirs. That's a big one. Yes.

So if someone tries to come after you for a debt that's not yours, you can say kick rocks and pound sand. That's what I tell them, at least. Kick rocks pound sand. Yeah. You never done that before? No, I have heard it. I don't really get it, but. It's just an old timey phrase.

Kick rocks. Of anger. Yeah. Yeah. Hmm. Okay, so all of this George is so important to know because it's going to help you and your family. And we're all about changing your family tree, right? Setting up everyone for success, including when you pass away.

That's right. But there is a partner out there, too, you guys, that helps on this journey, and that is fair wins. So most places handle your money, like you're in account number, you know, like the big banks, but Fairwind puts you the person ahead of everything. Like, they are so great at taking care of you the person. It's an amazing credit union. And Fairwinds is all about their customer service, and they're not owned by Wall Street. They're owned by their members. Meaning, if some great things are happening, you as a member, you, that have, you have an account. Yes, with them. You're going to get all of those benefits. So it is an incredible, they're an incredible

service. Yes. So if you're married, go set up a joint account. And, And if you're not married, set up an account, you can name a beneficiary on the account. That's very important. The beneficiary trumps everything else that we've talked about. The wills, the trust. If there's a beneficiary you're on there, that's who gets the money. So if you want to check it out, you want to join Fairwins. Go to fairwins.

Go to fairwins.org slash Ramsey right now, or as soon as this episode is over. We'll drop a link in the description as well. Okay, so how do you know if you receive inheritance from a relative and what do you do? Especially if it's like a distant relative and you didn't even know. and you didn't know you were in the will. That'd be magical. Like Uncle Bob died. You're like, I don't know we had an Uncle Bob.

You know, like, they left you, Genovia. You're like, I'm a princess, you know? Like that. That would be your fantasy. That would be so fun. Here's what actually happens in real life. You would be contacted by the executor of the will, a lawyer, or the probate court. And this could happen via phone call, email or mail, which is why I answer all calls, just in case.

You never know. You're like, ah, the wrong number? The distant relative. Yeah. Could be my million. Who would have known? So bottom line, if you are named in a will, you will be told eventually. Yes, for sure.

So what should you do in this scenario? Would you invest it? Would you let it grow? Yeah, if you do have money that you've received as an inheritance, which happens, you know, a bit. We get calls like that on the Ramsey show all the time. So, honestly, you just want to apply it to the baby steps wherever you are. So use it to help pay off debt, use it to buy a home, use it for some cash as an emergency fund. You can invest it.

You can give it. You can use some of it. But really following the baby steps, just kind of a plug in play is great. And for some people, it takes them through a lot of the baby steps because of it. You can leapfrog a few? Yeah. So it's pretty wild. Can I give you a scenario that I want your take on?

Because we took this call the other day. Oh, fun. Yeah. The guy said, hey, grandpa left me this inheritance, but he had wishes for me to buy a house. But he had a bunch of debt. He didn't have an emergency fund. And he said, I think I need to buy a house because grandpa said I should with this. this money. And it was, I don't know, $50,000. And so I was trying to coach him going, hey, I would

pay off the debt, get the emergency fund. That might mean the house is delayed. But what I, what Grandpa really wanted to think the heart behind it was for you to have some financial independence and own something. And right now, you're in a place where it's going to be a burden instead of a blessing. Yes. Would you agree or would you say, listen, grandpa wanted that? You got to do what grandpa wanted. No, I would agree with you because again, I think the heart behind it is setting you up well. And how to set you up well is not to curse you with a house that you necessarily can't even afford to upkeep if you don't have the income for it, but yet you have this like some money. So, no, I would, I would be, yeah, in yours. And that's the other thing is I don't like the strings attached.

You have to use this money over here. I know. There's a part of me that I'm like, okay, I hope I just raise good humans. You know what I mean? And you guys. And you guys. do with it as you believe is best, and hopefully they have a good head on their shoulders to do it. But I don't know. And what age would you trust your kids with a pile of money? I know that's what I was just going to say, because once in a night, I set up all of our stuff.

Like 18? Are you like, hey. I think we did know. I think we did little bits. So I think they get it all maybe at 28. But they get some at 25. We like spread it out. That's smart.

I think, yeah, that we just went through this process. And I think it was like, hey, they'll get enough to cover college if they're in that phase. that'll get enough for like a down payment when they enter another phase and then by the time they're in their 20s into 30 they can get the rest of the money. Yes, that's what we did too.

Yep. There you go. Yeah, I think that's good. Slow it down a little bit, but I don't know. People do it, yeah, all different ways. That gets us into this next section beautifully. What is the difference between a will and a trust?

That's good. So a will is a legal document that says who gets your stuff when you die, basically. So it's that. and you want a state-specific will, because sometimes there are different laws, as we've just seen, state-by-state.

So make sure you get a state-specific will when you do it. It goes into effect when you die. So the moment of death, the will is now put in place. And again, it must go through probate court. So you've got to go through the court system to make sure everything legally is done. But that's the will. It's basically the document after you die that says where everything should go.

And most people are totally fine with just a will. So not everybody needs to trust. There's a lot of lawyers on social media telling people why it's never enough to have a will. You need a trust. You need a trust. Well, guess what? Trust costs more money and therefore they can make more by peddling it. And trust do have a time and place, but let's get into that.

So what is the trust? It's a legal arrangement that hold your assets while you're alive and after you die. So it lets you skip probate court and keeps things private, which is a big reason people have trust is to keep things private. It allows you to control, manage money for loved ones, and minors over time. So like Rachel and I just talked about, if you want it to be stair stepped where, hey, when the kids are 18, they get this and it goes to here. And when they're 21, they get this, it goes over here. So as your life gets more complicated and the more wealth you build, you may want to talk to an estate attorney and get a trust set up. But like you said, there are

some fees and you usually have to get a lawyer involved. It can be a little bit more. It's thousands of dollars instead of $100 or $200 or $200. Yeah, it gets a little bit more complicated. But if there is a complicatedness to your estate into where you're going to, you you have built, you may want to be smart about it. It may be worth that investment. And I hope all of our viewers and listeners build so much wealth that it gets complicated enough that they go, hey, I think we need to trust.

We're willing to drop a few grand to make this happen. I love that. Yeah, and I hope our listeners build wealth and are wearing cozy earth because that means you are living a great life. Who's gonna get the cuddle blanket in the cruise will? It needs to go in the will. I didn't give it Charles. King Charles.

I don't know, I just feel like that's Fits. That fits. It's very fitting. He'll be a grown man by then going, why did they leave a, okay. This big cuddle blanket for me? Why'd they leave a 40-year-old blanket in? No. You're going to live way past your 70s, by the way. I believe that. I want to take that in. I'll take it. I'll take it. But Cozy Earth products, honestly, they are the best. The quality of them, the softness of their bamboo line, their pajamas, all of it. It is like silk. It's amazing. It is so incredible. And the best part is, because I love a good deal. I love a dupe every now and then. But after,

you wash those a couple of times, it kind of loses the shape. And Cozy Earth has not. Like all this stuff still. Fits well. It's comfortable. Everything. So Cozy Earth products. I put it in the buy it for life category. If you are ready for quality over just quantity,

Cozy Earth is for you. And we're going to sweeten the deal with 40% off. When you use the promo code smart money at checkout, go to CozyEarth.com slash smart money. We'll also drop a link in the description. That's a lot. So good. All right. Next step. Power of attorney.

George. Now you're speaking my language. And do you need one even if you are not ill? Yes. How would you know if you're going to become ill or incapacitated at some point? So power of attorney is a legal documents that gives someone else's authority to act basically upon your behalf. Okay. So they are able to make financial, legal, and even medical decisions if you are unable to.

So it is a big one. This was a tough decision in our house to go like, who do we trust to handle all things financial? Who do we trust to handle all things medical? Yes. Are they going to pull the plod on all, Georgie? Because usually it's the spouse first, right? Like your spouse, you know, and then you usually have one or two other people listed in case. Yeah, I mean, there's very much so could be the case that both spouses were in an accident or something.

Okay, does that not make you so nervous? Can I tell you this, George? This is like a little morbid, but we are in black. Just be vulnerable. We are here for it. So one of my good friends, her uncle had a heart attack, okay, went into a coma, like brain dead, like, like, it just wasn't good. But they said there's still, like, there's, and I'm not a medical professional, but there was something about, like, your body is still alive, but the brain activity is gone. It's like, it's kind of like you're half there, half not, like it's weird.

Like, heart's pumping, like things are working. Yeah, you're still there, but then you're not. And it's like this whole thing. But if you technically pulled the plug, he wouldn't be able to survive. But yet there was a chance he could come up. come back. It was all the stuff back and forth. And yeah, they kept him alive for maybe like two or three months. And dare I say, maybe longer than what I may have, I don't know, I don't know what I would have done. But it didn't look good. And that was like, that was, uh, let's see,

six, almost six months ago. And he went home last week. What? Completely back. And living a full normal life. Well, his speech is a little bit. He's there having to do some speech stuff, but he's walking. I mean, all of it. How crazy. Because I've told Winston, like, if I'm not here, you just let, send me on. Like, I'm ready.

Like, hey, 90 days. But now after this, I'm like, maybe just put me in the corner for, like, I don't know, 12 months. Like, see if I come back. Like, I don't know. I could come back. How weird is that, though? Crazy.

Wow. What would you do? How, because we had to talk about this when we did all of our stuff. Like, what's the timeline of like the, And I think I was quick. I think I was like, listen, just let me go. Like, you know. Really?

Yeah, I'm more on the like. I think it depends on my. The spirit. I wonder, do you get stuck in the middle? Like, you're not there. You know, where are you? I don't know. Is this like a purgatory situation?

So just send me on. Like, I want to keep going. But now I'm like. I've heard people in comas though. It just feels like it's a time warp. But his wasn't even a coma. It was like a brain. Like, do I'm saying?

It was like real bad. Wow. Yes. Yes. Like, there was very. little hope and then six months later and they were like but there is a small chance something but they did it they did at all like here's the problem if i was in a coma for six months once i saw the hospital bill i would die again oh my gosh you know what i mean you're like six this

a thousand dollars a day in a hospital yes 30 days times you're like two okay i owe two million dollars to this hospital yeah but yours health insurance will cover some of that you'd hope so they'd find a way not to cover me sometimes wouldn't put it past them and george's price match this yeah they Like, well, his auto pay actually didn't go through last year. Oh my gosh. Oh, my gosh. Crazy. But yeah, power attorney, you make all, yeah, it's all these decisions. So maybe don't put me in charge of. Oh, trust me.

The plug free. You were not in the running. I think I would be like, 48 hours. He had a good run. I don't think he's coming back. Oh, man. That's a tough decision to make, though. A lot of these, that's the thing I found as people go to make a will and then they

like, oh, I need to think through that one. And they put that on pause. and then it's been years. I know. So you just have to make the best decision you can. Do you all have, we don't have to say publicly, but you all have obviously who would take the kids? Is something that you and winning?

Yes. Yep. Yep. Yes. Do you know more people are doing friends these days than even family? Because they're not, they don't live near their family anymore. People move.

I didn't think about that. Yes. So a lot of people, they want to keep their kids like in the same school, like keep their routine. I guess I assume my family would move. Oh, wow. But I guess the family we have,

they're local. Oh, there you guys. Okay, okay, that's good. That's good. But like I chose my brother for medical because he's a nurse practitioner. So I was like he would be able to talk with the doctors. Like he knows what's going on. Yes.

Yeah. I don't want to be trusted with that. No. I'd be just be chat GPTing. Like what would you do? Should we pull the plug or not? You know? What are the odds?

Don't put that on me. Chat GPT. Okay. Next up, what is a beneficiary? It's a $10 word. I'll tell you that much. Yeah. Who isn't, George?

Pop quiz. The beneficiary is the person or entity. Gosh, I hate entity more than anything as a word. It's so condescending. The person you name to receive financial assets when you die. So on my bank account, on my fair ones account, there's a spot for beneficiary. And so you likely would put your spouse if you have one. But you may have a backup on there of a family member, a dad, mom, brother, sister, you know, kid.

But make sure you have beneficiaries on everything that can have a beneficiary. Yes. And do not leave. If you are like, you had a divorce and you left your ex on there and she's still a bit, she gets the money. Yes. And you know what? That is the number one pro tip.

If you have a new spouse, make sure you change the beneficiary on all accounts. We got a call on the Ramsey show and her husband passed away and he still had his sister as the beneficiary because they had only been married two years and he never changed it. And the sister got the money and isn't paying the wife. And awkward. She doesn't have any. moral grounds too? I mean, I kind of think she should. Like, I don't know. It feels right, but you know legal grounds. I mean, it is what it is. And it doesn't matter what the will said. Just if that's the beneficiary on the account at the time of death. So remember, your investments,

savings accounts, cars, homes, those can have beneficiaries. So make sure you do that. That's a big one. All right. Something else that helps protect your family, delete me. Yes. What incredible service. It's the best. Yeah. They go in and remove your data from the internet and especially these data broker websites you guys these weird websites out there they're like the names of them they're like find people creepy people searcher yeah it's weird it's like yeah but your information's out there your home address email addresses your kids names they're out there and then deceased relatives info can be out there and they can use that to scam yes and old homes too like condo winston and i lived in for only six months it was on there

when i was like do go and through don't love that all the delete me stuff in my profile i know i was like oh my gosh so they go in and and remove your data because these data brokers not only will send out your info to other people and you can be scammed or, you know, there's some phishing, you know, they'll text you and all this stuff. But they will even sell your data to other people. That's right. And you get a great discount as a smart money happy hour fan, 20% off their annual plans. Just go to join deleteme.com slash smart money or use the link in the description. Okay. So if you have no kids, the big question is, who's going to get your money by default? If there's no will, no kids, nothing. What is going to happen?

So let's walk through the scenarios. If you're married, your spouse will usually get everything unless you hate your spouse. If you're not married, goes to your parents by default. Yep. And if your parents are no longer with us, siblings. And if your siblings have passed, it'll go to nieces, nephews, aunts, uncles, cousins. If you have zero family alive, which is very rare, your money usually will just go to the state. Wow.

This is called a sheet. I don't know if I'm saying that correctly. Correct me if I'm wrong. wrong, nerds. I'm probably out there. Happy to be wrong. Man, find somebody. You know, there was some luxury brand designer. I'm going to forget who it was. It wasn't like Dolcchinkabana, but it was like a, yeah, it was like a high up fashion and they left their whole, it was like $240 million, something crazy, to their gardener.

Wow. Yes, I read an article about it. Makes you think. Isn't that wild? Was it just the gardener? Okay. It's a gardener. Good question, George.

I don't know. I want to dig into that. But the story I made up in my head is that guy had no family. But leave it to someone. That's the point I'm trying to make. Leave it to someone. I was stuck on this. The barista you love, you know, make her day.

Leave all your assets there. Like, find a human. I would just like to leave it to random people. Can you just drop any name in there? Okay, give it to John Smith. And then that person has to figure out who, what John Smith were you referring to? James George. What about the zero family members alive?

Can you imagine being the last? last one. Like, you're not related to anyone alive anymore. That's a wild thought. That is a wild thought. That would mean that all of your siblings didn't have kids. You didn't have kids. Or you were an only child.

Only child. That's true. Parents. Yeah. No cousins. Lance and uncle's gone. Yep. Those, they didn't have kids.

Both of your parents were only children. There you go. Okay. Let us know in a family treat. If you know anyone who is the last one in their family trait. That's a pretty baller move though. Okay. Throw it out there. That's a lot of pressure. It is a lot of pressure.

You know, the name thing is pressure. If you're like the last boy to carry on, like that was my brother, there were no other Ramsies. Oh. Daniel was the last one. Because, yeah, dad's sister had boys, but she was married. Like, you know, that name. The men usually carry the name forward.

Yes, yes. Wow. Have you done the family tree stuff? Not as much as my dad. Not as much as my dad. Not as much as my dad. Okay. That is deep in it. You're like he's got it.

We're good. Yeah, did you hear, someone did offer to do a lot of like... Yeah, she attempted mine. Yes, yes, to come into it. And she did Ken Coleman's and found out that her and Ken, or she found out of Dave. That's right.

Dave and Ken Coleman are related. Seventh cousins? It's like, um, yes. It's something like that. Or like a cousin seven times removed. There's a good chance. Ken Coleman and Dave Ramsey are related. Ken's,

Ken has to be in the will now. He did. has to get on the schedule for all the vacations and everything. She attempted to do mine, didn't get far, and sent me my grandpa's obituary. And I was like, yeah, I was at the funeral. Thank you for the information. George, I feel like you always kind of get the short into the stick sometimes with stuff. Well, she literally sent me another one that said, hey, you're short and here's other famous people that are short.

I was like, this has gone beyond. This isn't even genealogy. Stop it, but you're all going to live long. I guess. Because you're short. She was just, I guess, trying to comfort me. Oh, my God. That's so funny.

So hey, you know, Napoleon wasn't that tall. What gosh. Thank you. Go conquer a world, George. All right, let's do some quick financial dues and don'ts. You ready? All right. Do have a will.

Everyone. Get a will. And you might think, well, I don't own anything, Rachel. Who cares? What do you say to that person? I would say still do it because there's going to be some simple questions on there. And it just makes things easier for everyone. So they're not having to go through all this stuff.

So do a will. Do a power of a turn. set that up. Yep. That is very responsible. Again, eliminating a lot of these big decisions of who does what. If something happens to you, that's just a gift for people. The questions are answered.

So, like, that's part of it. And if just think, if this happened today, who would I want to do this? And if you don't have a good answer, that means you have some homework to do, but it's not an excuse to just put it off. Do you keep beneficiaries updated and consistent, just like we talked about. If your life is changing, make sure you're changing that stuff too. 401K, the old IRA, the insurance policy, the life insurance, the bank account, you've got to make sure that you're keeping that updated as your life changes. Because, again, those override. That's right.

Okay, what do you, which they not do? Do not rely on verbal promises alone. That's not going to hold up in a court of law. Well, he said. Someone said something and they tried to. Just to fight over the assets. And don't, like, write it on the back of a sheet of paper and be like, here it is, right? Like, go through the real process to get it legally done.

Get it done. power of attorneys, health care directives, all of that. Next on the do not list, do not let your apathy affect your loved ones down the road. So in the words of George Washington in Hamilton, quote, dying is easy, living is harder. Hey, George was a real one for that. Living is tough. It can be tough out here. You won't be the one cleaning up the mess when you pass, but your favorite and most beloved people will be.

And I don't know about you. I want when people are grieving my loss, I want them to think I was a great. wonderful person. Yeah. I want them to think that. What I don't want them to remember is, yeah, remember that time he left us a mess and a giant maze and a nightmare of a...

Yeah. Leave well, people. Yeah. That's it. You know, you leave a star. Even if you were a terrible person on Earth. Look how responsible he was or she was. See, that's a good legacy.

How people feel about you. Yeah, leave them with a good taste in their mouth about how you lived. So handle your debt. Get the paperwork and check. Allow them to agree without added financial chaos. Give them a high quality J-P that you want printed at Walgreens.

That's right. Give them that photo. Don't leave them scouring through old Facebook profile photos. And having to ask friends to, you know, Photoshop things. I swear if I have a bad quality photo in that frame, I will come back from the graves. We'll come back. I think it's going to be great. I think you're like...

If I can see the pixels, I will come at you. I will rise. Oh, man. But then also it may take a lot to print that picture. It really is. They may get a better deal if they do it. Just put an iPad up. I don't care.

Oh, yeah, swipe through. Slideshow. Slide show. Love it. You know what? That's what I'm going to make people sit through. You know what I want? Everyone has to sit through a 30-minute show, me.

Just my life. I want to do a chat, GPT, slideshow of me doing heroic, courageous, brave, noble things. And I want Sarah McLaughlin, arms of an angel behind it. I want to be able crying seeing me save a kitten from a tree. I was going to say, yeah. Oh, my gosh. Can you imagine? George.

so inspired. George feeding a village. Yes. And Chad GBT will nail it by then. Hopefully. If I die like, I don't know, 20, 40, 80 years from now. Yes. We be in space. One of you like, you went to space. That's going to be mine for you. George went to the moon. Me with Katie Perry next to me. She's like, see, I actually went. The only person that actually went to the moon is George Camel. I'll believe it. Can we give the people some resources because we flew through a lot. It was a lot, This should not be the last thing you do for your legacy and estate planning. Still alive and well. Yeah.

Also, if you have kids listening, I'm sorry. We should have put a disclaimer up front. This episode may be a lot for a child to hear. Maybe. Maybe we'll... Keep the innocence. Add one to the front. They don't need to worry about this.

But hey, maybe the kid is now nagging you going, Mom, did you ever get that will? Remember that Ramsey people said? Is the power of attorney document done, Mom? Remember that that girl said you should get a will? Oh, my gosh. That's you. Okay.

So what we are going to do to help. you guys. We're going to leave our Ramsey's estate planning guide, which is the process to walk you through everything we talked about. We'll leave that in the show notes for you to get started. So, you guys, happy living. You know? Happy living. It's great. Hey, if you're watching this,

be grateful. Be grateful you're alive that you're in a time and place where you could experience smart money happy hour for free. Not behind a paywall. Sure, there's a few ads in there, but that's a small price to pay for the quality content you get on this. You all are so lucky is what George is saying. It's horrible. So, well, okay.

to live at the same time as Rachel Cruz. Oh my God. Oh my God. What a gift. And you got to live at the same time as Backstreet Boys at the Sphere. That's a gift. I don't want to hear any complaints. I know. What a gift. What a gift it was.

There is. I think you're actually getting emotional. It just keeps on giving. It gets in my spirit and it makes me so happy. Wow. All right. So before we spill the tea on our guilty as charged segments, George, when we rate the drink? What do we think?

We are dead even. We are dead even. You know, I'm going to go, I make a 10 out of 10. Wow. That's brave. I'm going to go 8 out of 10. I think it was a really good drink. The color threw me off and mixologist Michael said it's supposed to be a bright blue.

And that's all I keep thinking about. Oh, crap. You didn't tell me that. Well, I wanted to save that for the end. Jeez. But it was very good. It's got some egg white in there. Yeah.

Which I like personally. But it's still a strong drink. I would order it at a restaurant and I wouldn't complain. Yes. I'd be grateful that I got to live at the same time as Rachel Cruz and the Backstreet Boys. And just cheers it. Busy being grateful. Put that on a shirt.

Just busy being grateful. Sorry, just busy being grateful. It's a southern mom right there. So this is the Knight King. It costs $3.23 per glass. Oh, it's expensive. Good taste ain't cheap. It's got Piscoe, which is like a sweet sour liqueur,

blue curacao. Curacao? Creme de Cacao All of the $10 words Lemon juice and egg white So it's a very interesting complex drink Which I think life is the same way

Isn't it? It is just complex It goes places You never know Sometimes it's not the color You thought it would be But you're still like man I'm glad I got a drink

It's here May not be the expectation In life I was thinking Not my strongest analogy But here we are But it delivered Get the recipe and the show notes Make it while you're still alive

Oh my gosh All right, now it's time for guilty as charged. And this is where we ask each other a guilty as charge question every week. And if we're guilty, we take a sip. Right, George, the question is, have you ever pre-claim something from a relative's house long before they die? Oh, wow. I didn't know you could pre-claim it. My mom always wants to do this with us.

Did you know this? Wait, like, you're at her house. And she's like, girls, come here. Mm-hmm. And or she'll text us. I need to go over my jewelry. with y'all she wants to make sure we don't sell any of her jewelry that we all know what we're taking yes she tells us that all the time don't sell my jewelry when i die she tells us that like three times so it's more of a threat than it is like a generosity but we need to like go through and like look at all of it yes and now that the girls are going to want some you know what i mean like it's like a whole thing so that's fun so that but the one thing i do want for my mom and i haven't really said it out loud so maybe i'm going to say it now and send my sister the episode speaker truth I want my mom's Christmas China

Which is really pretty Christmas China Is it, can you explain what it looks like? Yeah, and it may be a nostalgic, maybe it's just because of like We grew up like with it It's almost like this like yellow goldish color plates And the trim are these ribbons They're like red, green, blue Woveen through all around

And the plates are square But the edges are like circled I don't know what shape that is Kind of rounded edge? Yep. yes um some of the serving and then some of the like obviously just like the dinner plates and all of it but it's just the border it's just beautiful do you guys use it at christmas yeah yep it's actually used that's oh yeah yeah yeah for sure but it's just so pretty all right and i don't have

christmas china like we use the same plates 12 months a year but i love the idea of having like i hope you get it denise i'm sorry i know i got it i need a text her after this episode i'm like can i snag the christmas china but denise doesn't have a show where she got to pre-claim it That or any Christmas villages, if my mom still has them. Oh, I get those too. That's fun. Is she into that? She was.

They had some. I don't know where they are now. My grandparents were big into it. And we all are all going to get one. My papal keeps his up 12 months a year in a cabinet. Wow. Yes, in the living room. It's been like that since I was a kid, too.

The Christmas villages. So I think we all, I think all the grandkids get one, but I need to make sure for sure I get one of those. I think you should get first dibs on anything. Well, thanks. Well, just because you'll be the most annoying about it. So she's like, let Rachel go first. Oh, my gosh. We'll deal with the leftovers. We'll be fine. I'll just throw out my hints. I'm like, love, love the White House with the red door.

I love that one. Start putting tags on it. Yeah. Property of. Just put my name on it. No. How about you? I'm going to be honest.

Nothing my family owns is of major value that I know of. Well, not like money value, but you're just sentimental value. Okay. You got that too. No heart, George. Are you alive? You there? As I get older, I'm less sentimental about physical things.

Oh, wow. it's usually the opposite. Maybe over time, like, I don't know. There's nothing, though. Would Whitney have something like from... Whitney, for, she already does. Oh, okay, okay. I mean, she's got, you know, grandma's china in the attic.

Maybe it's a do thing too. You all may not care. But also, I'm realizing, like, all boomers are secretly just hoarders. And so I'm like, ugh, like, I don't want any, you know. But then if it actually happened, I might, I'd probably have a change of heart. And I'd go through the stuff. Like, like, a book or, like, a Bible, like, something that, like, yeah, your dad had. Like, this is the, the camel stuff.

animal that came with the Prince of Egypt VHS. And I want, you know what I mean? Like, they still have to this day. I bought a Jasmine pillow. Like Jasmine from Aladdin, a little bright blue pillow with a pop out tiger that's on a string. They still, when I facetined them, will hold up the Jasmine pillow and the tiger and try to send me home with it every time.

Like my grown wife is going to be like, yes, perfect. We'll put that in Mia's room. It's a 25-year-old Jasmine pillow. What are we doing here? Why do you have a Jasmine pillow? I was really into Jasmine. What can I say? That is so funny.

So, yeah, I don't think anything is a value, but I probably will get sentimental in another stage of life. Right now, I'm in the purge phase. Yeah, get everything out. Everything must go. Okay. I appreciate that. Oh, man. Well, if you have a guiltiest charge question for us, make sure to DM us at Rachel Cruz or at George Camel or leave it in the comments.

We're always looking for new guilty as charge segments and those questions and you guys bring some great ones. So keep it up. We thank you so much. Now, if you enjoyed this episode, you're definitely going to love our episode, stirring the pot with these off-limits topics. That's going to up after this. And we'll also put a link for you. And make sure to subscribe so you don't miss an all new episode of. Smart Money Happy Hour.