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11 posts tagged with inheritance and family. (View popular tags)
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What should my elderly parents do with their only asset, a liquid $250K?

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!
posted by losdavos on Oct 24, 2013 - 14 answers

Crazy aunt and a sick house.

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]
posted by squirbel on Jul 13, 2013 - 20 answers

"We're giving it all to them, but don't worry, they have your best interests at heart!"

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]
posted by anonymous on Nov 10, 2011 - 30 answers

Inheritance issues in Hungary

Need estate/inheritance legal help in Hungary. [more inside]
posted by tigrrrlily on Jul 11, 2011 - 3 answers

My godfather has offered me a partnerhip, help!

My godfather has offered me a job in his company. I am unsure what to do and need help! [more inside]
posted by mikeanegus on Feb 3, 2011 - 9 answers

Are you an adult who is financially supported by your parents’ money? How do you deal with that?

Are you an adult who is financially supported by your parents’ money? How do you deal with that? [more inside]
posted by meta_asker on Dec 10, 2010 - 63 answers

Trying to avoid the farce after the tragedy.

As the trustee for my parents' estate, what responsibility do I bear if I have ethical questions about how they treat my siblings in their will? [more inside]
posted by sapere aude on Sep 28, 2010 - 14 answers

Am I crazy to offer a gift of financial planning services to my cousins?

My Aunt, Uncle and cousins have never been good with money, and have also never had well paying jobs. My Uncle has just inherited a (low) six-figure sum. Do I try to help them out by offering to build a financial plan for them? [more inside]
posted by RecalcitrantYouth on Dec 20, 2009 - 11 answers

Fuck death

Both of my wife's parents died. Her dad first in January, now her mom in September. My wife is the oldest child. No will was left. What do we do? [more inside]
posted by Bageena on Nov 18, 2009 - 24 answers

How to handle a retro-reduced inheritance?

How to handle a retro-reduced inheritance? [more inside]
posted by anonymous on Oct 13, 2008 - 14 answers

a slow moving train wreck.

My grandfather recently passed and left me as the co-owner of a house with my VERY irresponsible uncle. How can I protect myself from liability and how do / should I attempt to save my uncle from himself? What kind of professional should I talk to? [more inside]
posted by jlowen on Mar 25, 2008 - 17 answers

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