If you were to receive a sizable inheritance, what should you do with it? This money could help you achieve some of your important financial goals , so you’ll want to think carefully about your choices.
There are mechanisms that you can put in place through a trust to help your children become financially responsible with their inheritance.
If you are in your 50s, you should be doing the math to make sure that you will not have to survive on ramen noodles and peanut butter in your golden years.
Without proper planning, leaving an inheritance or making a gift to a disabled family member can cause the disabled person to lose their means-based government benefits, such as Supplemental Security Income or Medicaid.
The executor is responsible for finding a buyer and doing all that is necessary to get the best price possible.
Parents are often more than happy to offer financial advice to their children. They like to feel needed and want to make sure you’re on solid financial ground. However, it’s important to turn the tables and ask about their financial plans, too.
Life insurance can offer income and saving options for the long term.
You might be amazed at some of the bizarre places that people put their documents. It would take you a month of Sundays to find the papers if the person had not told you where to look.
The last thing anyone wants to see is all of that hard work negated at the end of their life. I’ve said this a million times, but stop putting off your estate planning and deal with it today!
When you use a life estate, how does it work? What are the restrictions and who pays the property taxes and other expenses for the home?
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