What do I ask the money guy?
August 31, 2011 7:35 AM Subscribe
I have learned that I will inherit, with my sibling, a good sized estate including a house and some investments and a few trusts. These assets also come, if I want, with a "money guy" who was my parent's money guy. I have met this man and he has helped me with some basic early estate stuff and has indicated he'd like to work with me. I have a meeting with him and my sibling next week and I'd like to make sure I'm prepared and know what to ask him and could use some help generating questions.
posted by anonymous to Work & Money (17 answers total) 10 users marked this as a favorite
He's sent us the accounting from the trusts and investments, so I have a pretty good idea at what I am looking at. I know from reading past AskMe questions that a fee-based financial adviser is optimal. I have no idea if this guy is fee-based which is one of the questions I'll be asking. Others are about how to best invest for my goals and my sibling's goals. I'll also be asking about the wisest way for us to hold on to the house. Besides that, I'm a little at a loss.
My initial impressions of this guy have been favorable and I know my parent liked him. My sibling and I are in okay situations ourselves, so have no immediate need to deal with personal financial issues at the same time.
If you have used a financial manager, what were some early questions that you asked them? If you received an inheritance and went this route, what was helpful to you in working through this? I've never had more than a bank account and a small mortgage before, so this is a little out of my league and is sort of tough to talk about with my friends who are in very different financial boats from me. We also have a lawyer and the advice of a tax guy, so those bases are covered as far as inheritance/estate issues go. Thanks for any suggestions.