When a candidate for President of the United States is so sick she’s got to leave the 9/11 memorial service halfway through, and then is unable to get into her vehicle under her own power, that’s a person who is clearly unwell.  Regardless of political stripes, we wish Hillary Clinton a speedy recovery.  But her illnesses – and the fact they’ve been so carefully hidden – begs the question:  What about YOU?  Have you prepared your spouse, your kids or whoever will inherit your portfolio all they need to know to understand and succeed with your assets?  And by the way – the potential of severe illness for Hillary has ramifications for your money, too.  Let’s take a hard look right now.  I’m Bryan Ellis.  This is Episode #227.  ----- Hello, SDI Nation!  Welcome to the podcast of record for savvy self-directed investors like you where we help you TAKE and KEEP control of your investments. In the last episode, we talked about Bob, who recently passed away and left his 3 children with an IRA containing real estate.  It was a very valuable IRA, but Bob didn’t plan for the fact that that real estate would have to be divided when he passed away, and the predictable result was bad:  Serious legal strife among his 3 kids. But the potential for conflict over dividing assets in an inherited IRA is only one challenge when beneficiaries inherit a self-directed retirement account.  The other challenge is brought into sharper focus by recent news of Hillary Clinton’s health challenges.  Now before we proceed, note that this isn’t a political analysis, but a financial one. We know that Mrs. Clinton is suffering from a severe case of pneumonia and that she’s had a collection of other serious head injuries and illnesses in the past.  There’s also pervasive discussion in the medical community of the likelihood that she suffers from ongoing neurological problems. Whether those things are true or a product of the political circus we’re all witnessing right now, one thing is true:  Mrs. Clinton – just like you and me – will die someday.  Now unlike me, and most of you as well, Mrs. Clinton and her husband are extremely wealthy, reportedly having a net worth in excess of $100 million.  I don’t know how or whether the Clintons invest their money, but this issue affects them just like it does me and you. What’s the issue?  Preparing the next generation to handle the money and the assets. If, God forbid, Hillary and Bill were hit by a train, would Chelsea know how to handle what they leave behind to her? More importantly, will YOUR spouse or your children know how to handle the assets you leave behind? It’s important for you to grasp this one central concept:  Your knowledge doesn’t transfer automatically.  Your motivations and plans don’t transfer automatically.  Not even your IRA or 401k transfer automatically.  In each case, you’ve got to DO SOMETHING to make sure that your assets – and the ability to properly manage them – ends up in the possession of your loved ones… ….and nobody can make that happen except for YOU. Here are some of the things you need to make sure to do to prepare your beneficiaries for a successful succession into your financial assets, and as I go through this list, ask yourself:  Do your beneficiaries have this information for YOUR assets?  Here we go: A clear, detailed list of assets, and the accounts in which they’re held. A clear, detailed status report for your assets, including valuation (and how to update the valuation), any debt, any recurring or expected expenses, most likely unplanned expenses and any risk factors you see Thorough financial records. Think in terms of preparation for an IRS audit, because that could happen after you’re gone, and you won’t be available to lend your knowledge A detailed explanation of assets. For example:  What is the asset, exactly?  Is it a stock or bond or real estate or precious metal or… what exactly is it?  How can it be profitable?  How can it lose money?  Why did you choose to inv