What’s The Best Way To Invest Your Inheritance?
Inheriting money is always comforting news. It means a lot to know that the loved one you lost considered their future, and yours! But if you want the benefits of that inheritance to help you and your family over the long term, you’ll want to invest it wisely. What is the best way to invest […]
Debts And The Deceased
Many believe one’s debt is forgiven once they pass away. More importantly for our purposes, do their beneficiaries? In general, the rules for handling the debts of those who have passed are fairly simple, but there are a couple of wrinkles that you should be aware of. Generally speaking, the debts of the deceased must be paid, […]
About Inheritance Advances for Financial Advisors
By Lucas Whelan, CFA, CFPC As any financial advisor who has helped a client with the probate process can attest, lengthy legal processes can create significant headaches, both for a client waiting to receive an inheritance and for advisors managing an account from a deceased client. Beyond the logistical headaches, there can also be significant […]
How I Got My Inheritance Before Probate Was Finished
When my Dad passed away after a long battle with cancer, in a way it was a relief that his suffering was finally over, but I was not prepared for the impact it would have on me personally. Fortunately, I had a brother who I could rely on to make all the funeral arrangements because […]
Is an Inheritance Taxable?
As a wise man once said, nothing is certain but death and taxes. That wise man, by the way, was Founding Father Benjamin Franklin. If a relative of yours has recently followed old Ben to the great beyond, both death and taxes may be on your mind—namely how much tax will the government Mr. Franklin […]
What You Need to Get an Inheritance Advance.
If you are going to inherit money or assets from an estate and would like to receive those funds sooner, and avoid waiting months or years for the probate process, you may have already learned about the option of an inheritance advance. There are companies out there, like InheritNOW, who are willing to advance you […]
Are Other Heirs Affected If I Get an Inheritance Advance?
The process in which assets from an estate are distributed to heirs, called probate, is a slow one—taking 17 months on average in the United States. Once inheritors learn this, many start to look for ways to get their inheritance faster. An inheritance advance is a great way to put your inheritance funds to work […]
Is an Inheritance Advance Expensive?
One of the major concerns about inheritance advances is the cost. While there will be expenses associated with choosing an inheritance advance, there are risks and expenses associated with settling estates without one as well. Understanding how each of these may apply to your situation can help you determine if an inheritance advance is a […]
What to do with an Inherited Business
When you lose a loved one, there are a lot of things to think about. From handling funeral arrangements and final expenses to preparing estate tax returns, the list can seem endless. When your loved one owned a business, it can be even more complex and oftentimes decisions need to be made quickly for the […]
What’s the best thing to do with an inherited house?
Losing a loved one is one of the most challenging experiences one can face. Plus, there’s a significant amount of work to do if you are involved with settling the estate. The biggest issues can come from what is usually the largest part of that estate—real estate, generally a house. If you find yourself with […]