My biological dad suddenly emailed me out of the blue. I have only been approached by him one other time. I am not exactly sure how to proceed here. Prepare for wall of text as my family history is straight out of the Jerry Springer Show. [more inside]
We’re unexpectedly inheriting a house and we have a week to decide what to do with it. [more inside]
There is no one in my life… so who benefits from my death? Not a request for legal estate advice. I need to sort out my limited beneficiary options given my dismal family situation. Help? [more inside]
I've come across a website exporting used silk and rayon saris from India. A few seem in poor condition, or have some obvious stains. But some appear pristine. My question is, one, is there not a market for second-hand saris in India? Two, what renders a sari unwearable, apart from stains and rips and obvious wear? Like, would you not be seen dead in a fabric pattern from 5 years ago? And three, would you not want your mother's or grandmother's vintage silk saris, and if not, wouldn't somebody else? I can't understand why it makes economic sense to export this stuff: the garments on the website seem too cheap for 5 yards of vivid silk, even if the buyer has to discard portions of it.
My Dad owns about 20 acres of land in a small town that he wishes to give to my brother, my sister, and myself now, not when he passes. My siblings and I plan to split the proceeds of the sale of the land evenly amongst us. Which way, tax-wise, would maximize the amount of money we receive from the land in the end? Should my dad give the title/deed to us first and we sell it, or Dad sells it and then gives us the money from the sale of the land? [more inside]
Our business is not doing as well as we hoped and we're considering closing it. The problem is that we're in a 5 year lease and have 4 years left. I confirmed with our lawyer that despite our business being an LLC, we are personally guaranteeing this lease. From what I understand, the only way to get out of a business lease like this is to declare personal bankruptcy. The only asset we have (besides the equipment, etc in the business) is a small inheritance. I don't want to lose that. [more inside]
I've inherited from a family member. Not a house or enough actual cash to buy a house outright, but enough to get on the property ladder. I'm awful with money (amongst other things). It's time to get professional advice in London. Can you recommend someone? Or tell me how to find someone? [more inside]
An acquaintance's brother-in-law, a retired photojournalist (Newsweek, Time), has left specific instructions to destroy his negatives after his death so his family won't be hit by US inheritance taxes on the estimated market value of the collection. He sells through Getty and Polaris so this is a valid financial threat (he believes). Kinda sad, I think. He did a close up and personal pictorial project with a young Bob Dylan living in New York, and these rare shots would be destroyed, along with... [more inside]
My brother had access to my late grandmother’s banking accounts. She passed away two years ago. My mother mentioned several months ago that there was still some outstanding money to be distributed to beneficiaries from the estate. Around $5k had been reserved in case there were any outstanding fees or taxes to pay. [more inside]
I have just found out that I will be inheriting $10,000. I want to maximize whatever I do with it, but I am not sure where to start... [more inside]
In the case of unpublished historical manuscripts in copyright till 2039 in the UK, where the original author is long dead and there is no designated copyright holder, how does copyright work once you get down a generation or two and have multiple heirs of seemingly equal standing? (eg. several grandchildren or multiple great nieces and nephews) Must everyone be consulted and agree, or if a will never mentioned the manuscript but left everything to a given child or even a non-family member, do only their heirs count and not the other grandkids etc? [more inside]
It's from my lovely wife's recent inheritance. It's not a lot, I know, but enough that we don't want to just stick it in the bank. [more inside]
Knowing none of you are my lawyer, I pose this actual inheritance situation. [more inside]
About 10 years ago I inherited my grandmas small fortune of paper and coin currency she amassed during the 70's and 80's while visiting nearly 100 world countries. The shoebox-collection contains maybe 200 coins and 100 paper notes, and some of them are really quite impressive! I've been lugging this box around for years and the time has come to finally part with it (sorry grandma). I'm not a coin collector and really don't know much about any of it, but with the help of a few books I researched a handful of coins and notes only to find out they're not worth diddly (<$1, if that). I have a feeling most of the collection is like this except for a few gold Rand coins and some notes that were previously appraised. Hivemind: what are some ways to liquidate my collection?
My parents have always struggled financially, living under crippling debt and never able to have an income able to match the bills, the biggest of which is their mortgage. I hate to see how difficult this situation is for my dad, and I want to help out for the sake of his stress level, and also because once he retires in a few years the math truly does not work out in their favor. I've been thinking of buying some land anyway, so I'm wondering if there is any feasible way to make this work for both my parents and me. [more inside]
Would a standard solicitor be the best person to advise? A specialist of some sort? A tax accountant? How to avoid unnecessary fees for work on this that the family can do--for instance, they are already tracking down all the banks with investments. [more inside]
I'm seeking as many opinions as I can get from people with knowledge of financial advising and/or trusts & estates and/or estate planning, about what my parents (in their 80s) ought to do with their $250,000 in liquid assets. I'm NOT looking for the kind of detailed plan we'd get from an advisor whom we hire; I'm looking for short, quite general, common sense answers (such as "These ONE OR TWO types of instruments are good/bad; all others are to be avoided/considered.") I'm also looking for as many answers as I can get. In order to get that assortment of answers, I want to disclose only a very few specific things about the folks: 1. they currently rent an apartment; they do not own a home. 2. they are in their 80s--relatively healthy and can drive, shop, take care of themselves, but I'm not sure how long that'll last. I'd like to see them in a retirement community within a couple years. 3. Their only income (which doesn't amount to much) is social security. 4. They lose about $2,100 in total expenses every month. That's just about equal to what they take in each month. 5. Their one and only significant asset is a liquid $250,000. Okay, at their age, and considering all the above, WHAT IS/ARE THE MOST PRACTICAL THING(s) THEY SHOULD DO WITH THAT LUMP OF LIQUID MONEY? THANK YOU from their worried adult child with a family of my own!
How do I tell my sister I'm selling our mother's cello? [more inside]
One of my siblings passed away unexpectedly a few weeks ago and I am one of the beneficiaries for her 401K. I would like some basic information on my options for handling the money. My share is not quite enough for me to pay a CFP (low $40K range) and I'd like to have some idea of where I stand before getting all the paperwork. [more inside]
How shall I decide what to do with an inherited property I have neither inclination nor time to administer myself, but don't need to sell and recognize it could be good if it stayed good to maintain it as a rental? [more inside]
My SO and I have been living for thirteen years in the house that he owns and has mortgaged in his name only. He has willed the house to me should he die and believes that I would be able to assume the mortgage automatically. The Garn St. Germain Act protects relatives from the bank calling the note when inheriting a property with a mortgage, but what about unmarried opposite sex domestic partners? [more inside]
How much professional advice do I need to manage $600k of investments? Advice for meeting on Monday please! [more inside]
Due to a ridiculous series of events, I am in quasi-possession of some land in Huerfano County, Colorado. Due to what I understand is a Colorado-specific difficult process of inheritance, the land (in my late wife's name) is more expensive to transfer to me than it is worth and since it is in her name, I can't even gift it. It costs me $100 or more annually to hold onto this acreage, and I am considering abandoning it. [more inside]
My aunt wants to charge me rent on a house that has black mold in it that has caused me to have seizures. It also has no running water, and the kitchen and half of the house is unusable. Snowstorm inside. [more inside]
I recently inherited enough money that will allow me to not work again. I still want to do things - volunteer, help others, keep busy, etc. How do I explain this to others and answer questions that people ask? [more inside]
We had some money in Switzerland, we don't know where it is. Now what? [more inside]
My friend, a dual Canadian/American citizen living in the UK, is discussing the terms of a trust with her (US) father. By the time she inherits, she may have given up US citizenship. Does this need to be mentioned so they can account for it now? [more inside]
Help me save my inheritance. [more inside]
Sibling and I have inherited ten U.S. savings bonds (I series), purchased at various times and maturing in 2030-2036. We just want to divvy them up equally, but they are not naturally paired (i.e., purchased two at a time). What's fairest? [more inside]
My partner and I are about to buy a house together, and we're trying to decide how to do this. We're gay, and hence technically unmarried, and we're trying to figure out the tax implications of the different options. [more inside]
How in invest inherited money? [more inside]
Possible inherited underwater house in New York, what to do? Walkaway? Advice? [more inside]
Grandma set up an uneven trust and we want to distribute it equally. Who do we talk to and what do we ask them? Questions about imbalanced inheritances, DIY redistribution of wealth, and taxes within... [more inside]
What can you tell me about Irish inheritance, wills and power of attorney and similar legal things? [more inside]
Needing advice from an estate lawyer or someone with thorough knowledge of how trusts work. [more inside]
Inheritance law question: death of named party prior to death of estate's owner? [more inside]
I have just inherited about one hundred boxes full of 40-100 year old stuff from 2 or 3 generations. I can't really use any of it and some of it may be very valuable. How can I best assess the values of the thousands of items so that I can sell/donate/throw out everything? [more inside]
I'm inheriting $100,000. My parents are inheriting a lot more (around $1mil, but we're not sure the exact amount). Please give us advice. We're in the US (New Mexico). [more inside]
What is the standard way that divorced parents with new partners (who also have children) organise their wills? [more inside]
My father died and left me and my sister his house. He willed her 2/3 and me 1/3. She's currently living in the house and I am not. I would like my 1/3 in money so I can buy my own place. My sister is not willing to hand over the cash and says she will put the house on the market next year. We do have a really good relationship when it comes to anything other than money, meaning I don't push the issue because she reacts unfavorably. What are my options?
some years back my father was re-married before his death. my father did not have a will in place and i am his only child. after his death the women he married ended contact with me sharing none of my fathers belongings etc. at the time i felt wronged, and as a young man i could not afford legal representation. many years (over ten) have gone by, and i have mostly moved on with my life trying not to think of these events, but there still is a bit of anger inside. as his only child and living blood relation is there any way legally that i can gain access to as much as old photographs, clothing, or whatever small momentos that remain in her custody?
I'm looking for general and specific advice about striking a balance between value and ease in selling a few disparate items from an estate. [more inside]
Is there a solid independent study showing the percentage of 1% wealthiest who were born into money vs. those born poor who worked for it?
I spent a large chunk of inheritance money on a real estate purchase, and now I want it back. My husband doesn't agree with this feeling. There are of course special circumstances and emotions involved. [more inside]
My aged parents are planning to cash in all their stocks and put them into an account in my two brothers' names to reduce the amount of money payable in fees to the government upon their demise. They have told me, more or less, not to worry, and not to doubt the good intentions of my siblings. How to respond to this? [more inside]
My father died in February and I have an inheritance coming, probably around the end of the year, but at this moment that isn't soon enough to keep the wolves from the door. It seems silly that I know I have this mid-five-figures amount coming, and may become homeless before I get it. Does anyone have any ideas about how I can get some breathing room? For instance, is it possible to get a short-term loan using the inheritance as collateral? Any other creative ideas?
My brother and I are helping our elderly mother set up a trust with the help of a lawyer. She has signed over her assets, house deeds, car title, stocks, bank accounts etc to the trust. She also has a number of CDs that we were led to believe would go into the trust as well. But now they're not? [more inside]
Will I need to pay taxes on this inheritance? [more inside]
I am a noob when it comes to money matters, and need advice on how to take ownership of my inheritance. [more inside]
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. [more inside]