To access Financial Freestyle, you can subscribe and listen through various platforms such as Apple Podcasts or Spotify. After a family member passes away, those responsible for settling their affairs may spend an extended period managing numerous tasks left unresolved.

Hugh Tamassia, the co-founder of Alix, an estate settlement company, mentioned on the Financial Freestyle podcast that despite well-executed planning, various aspects like property, vehicles, financial accounts, subscriptions, insurance policies, utilities, and other responsibilities need to be addressed by the next generation. This process can demand up to 900 hours of work for the deceased's children.

Tamassia, with a background in financial institutions like JPMorgan Chase & Co., American International Group, and Acorns, emphasized that estate settlement will affect every American, typically occurring just once in their lifetime. It is projected that the Silent Generation and baby boomers will pass down substantial wealth to their offspring by 2045, but prudent estate management is critical to preserving and growing this inheritance.

Regardless of wealth, estate settlement is a universal concern, according to Tamassia. Notably, this responsibility often falls on women and marginalized communities, with eldest daughters handling estate closures for baby boomer parents in over 60% of cases.

Underestimating the complexity of estate settlement is a common error, as there is a considerable amount of work involved in wrapping up the deceased's affairs comprehensively. To alleviate this burden on loved ones, Tamassia suggests creating a will and setting up a trust, though this may not cover all aspects. Tasks like managing subscriptions and credit card payments post-death are often overlooked, and attorneys executing the will may not provide guidance on these matters.