Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [estate-planning]

75 questions
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Will my children owe taxes on my life insurance proceeds?

I had always thought that life insurance proceeds were not treated as taxable income. From IRS publication 525: Life insurance proceeds paid to you because of the death of the insured person are not taxable unless the policy was turned over to you…
Portman
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Estate with negative net worth

If someone dies with a negative net worth, what happens to the bills and debts that they leave behind? If I am the next of kin, or if I am the estate administrator, am I responsible for the debts? Assume for the sake of this hypothetical question…
ChrisInEdmonton
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Does this sound like a great idea regarding being a landlord and starting a real estate empire?

I want to build a small empire of my own over time in real estate. I want to pay 20% for a house and rent it out for a small profit (hopefully make around 3 - 5k a year in profit) and then pay it off as soon as possible. Once I pay the house off, I…
user51866
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Where should I put my will so that it can be easily found when the time comes?

This has been puzzling me for a while. What is the best place to keep a last will and testament so that it can easily be found and executed obviously without any help from me? I've seen a lot of people suggest safety deposit boxes, but I've also…
JohnFx
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Is it worth having a pension?

I know this could be a duplicate of other questions here, but I think I have a different take on it which may be of interest to others in a similar frame of mind. Some background I'm self-employed and based in the UK, and every time I've looked at a…
Gary
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Elderly person selling mutual fund?

A friend is 98 years old and has 700K in a mutual growth fund (that is his entire savings). Cost basis was only 10K. He wants to withdraw it and put it in cd's. He does not touch the money (ever) but wants to leave it to heirs. The cd thing is…
abby yorker
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Disclaiming part of an Inheritance

Say a relative passes and leaves all of his money to two of his three children. His original will split the estate evenly among his three kids but before he passed he had several strokes, and in a fit of spite made a change and wrote a child out. If…
newUserNameHere
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What happens to 401(k) money that isn't used by the time the account holder dies?

What happens to un-withdrawn 401(k) funds upon the death of the account holder? Can they be transferred to an heir? What are the tax implications (if any) of this?
warren
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Co-signing & dying: What if a loan co-signer dies? Is estate of co-signer liable?

A grim and tragic question perhaps, but I'm curious: What happens when a person that co-signed on a loan dies? Is the co-signer's estate potentially liable until the loan is paid off, the same as if the co-signer had borrowed the money themselves? …
Chris W. Rea
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Estate liability for co-signer to Sallie Mae student loan?

My son has student loans. I co-signed on three that are currently with Sallie Mae. He stopped paying so I am doing that in order to protect my own credit. What is my estate's liability should I die before the debt is discharged? As a co-signer,…
Ira
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What happens when my 401K beneficiary is not my child, nor spouse?

I'm single and no child. My 401K beneficiary is my nephew. Should I pass away and he "inherits" my 401K, what will happen to it? How much will he be taxed for it? Is there a way to avoid any penalty or taxes on it? How do I go about this? …
user29808
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Employer wants a key man insurance policy on me, should I agree?

Friend is working for a small company as main person in charge of operations. The president is asking them to take out a key man life insurance policy on them. The benefit would pay out to the company. This person is not currently a shareholder and…
William Entriken
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How to set up passive income from investments for children?

Let's imagine the following: Mr. Leopold is an investor. He managed to save fifty million rubles by investing by now. He has children, but he is afraid that they will waste all his fortune after he dies. He wants to let his children receive a…
Жёлудь-мистэ́р
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Are funeral plots a good investment?

At the risk of sounding morbid, is it worth looking into cemetery plots/mausoleum storage? Is it correct to assume that these costs will increase over time?
Zephyr
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If the beneficiary of a Will is implicated or convicted of the deceased murder, does the Will still stand?

Honestly, I don't consider this to be a valid concern to my own financial planning, but having had the thought, I just wondered whether there are automatic provisions in law to nullify or remove murderous beneficiaries, or if one would have to add…
Andrew
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