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10 posts tagged with inheritance and will. (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

How does Irish inheritance work?

What can you tell me about Irish inheritance, wills and power of attorney and similar legal things? [more inside]
posted by plonkee on May 30, 2012 - 1 answer

Inheritance law question: death of named party prior to death of estate's owner?

Inheritance law question: death of named party prior to death of estate's owner? [more inside]
posted by anonymous on Mar 15, 2012 - 12 answers

Death and taxes

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?
posted by TLCplz on Dec 12, 2011 - 41 answers

Is this person being investigated for fraud? Where is the money?

UK LegalFilter: Can you do a dead person for benefit fraud? What happens if you try? Details include a house sold privately, and a whole lot of uncertainty. [more inside]
posted by anonymous on Jul 22, 2011 - 6 answers

Inheritance issues in Hungary

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

How should I set up this trust

What are some ways to structure a trust? I'm setting up a trust so that if I die, my child would not have a sudden, relatively large windfall. I've got life insurance, 401k and quite a bit of equity in a house, and at this time, I think it would be problematic. [more inside]
posted by anonymous on Apr 3, 2011 - 11 answers

How to decide when kids are old enough to inherit

What's a good way to decide the age(s) at which grown children will receive their inheritance? [more inside]
posted by Songdog on Mar 15, 2010 - 30 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

Does my dad's will override POD designation?

My dad's accounts are designated POD (payable on death) to me. Is that overriden by his listing of those accounts in his total assets, which his will divides among me and others, and which will is going to take some time to execute? [more inside]
posted by anonymous on Sep 10, 2009 - 6 answers

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