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

Questions tagged [inheritance]

for questions related to the practice of passing on property, titles, debts, rights, and obligations upon the death of an individual. Please user appropriate "Country" tag.

for questions related to the practice of passing on property, titles, debts, rights, and obligations upon the death of an individual. Please user appropriate "Country" tag. Related tags, estate-planning, estate-settlement, estate-tax, will.

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I'm supposedly eligible for an inheritance from a distant relative. Offer appears to be legitimate

About 12 months ago, I received a letter ostensibly from a company carrying out genealogical research for law firms. It said that they were dealing with the estate of someone who had left money to my late mother, who died about 20 years ago. They…
alephzero
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6 answers

Wife is cosigned on a credit card with her parents — real assets are also shared. How to protect my credit?

A few years ago I got a credit monitoring app and started watching my credit score (high 700s). It's been climbing slowly and sends me an alert when I apply for new credit — like when I bought a car or applied for a Lowe's card. Today I set my wife…
anonibon
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2 answers

Best way to make sure my son has an income after I have died

I have a son with special needs, he is autistic and has learning difficulties. It is unlikely he will ever have a 'normal' life or be able to financially support himself. I am extremely worried of what will happen to him when me and his mother are…
user1450877
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5 answers

What would you do with a large land inheritance with high tax rate?

I just inherited a couple hundred acres of pristine woodland in New England. I'm a nature-lover, so my first impulse is to keep the land as-is, letting campers, trekkers, and wildlife just use it as they like. But the taxes are killing me. The taxes…
Teusz
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37
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7 answers

Selling property inheritance share to sibling, 25 years later: original value? current value? something else?

My father died about 25 years ago, leaving me and my siblings a certain percentage of the lake home and property equaling 100%. At the time of death the property/home was paid for. My brother bought out 6 of the 8 siblings' shares. He now owns 95%…
JC Williams
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33
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4 answers

22-year-old inherited 30k from 529 payout - what is the best way to invest?

I recently received the payout of my college 529, about 30k amount. It's been in a mutual fund with a private investor for about six months. It's the same investor my parents use. I recently got my income report back and I made $12 total. I'm…
lll
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27
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5 answers

My father has passed away and I want to buy his home

My father has passed away and I want to buy his home. There is no mortgage left and I will be paying off my sister half of the house value. Do I need to get a new mortgage?
paula
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27
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13 answers

Best way to invest $300,000 inheritance for a couple intending to retire in 10 years

My wife and I are getting older and have a target to retire in 10 years. We just inherited $300,000 from a family inheritance (from liquidated property). So this money will come shortly and I'd like to know the best way to invest it (especially as…
CoolDocMan
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26
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3 answers

Credit card debt after cosigner passed away

My father is a cosigner on my brothers credit cards. He passed away last month. My brother is not paying off the debt. Can we remove my fathers name? Is my dads estate responsible? My brother owes more than the estate is worth. My mom will be…
Nursefun1952
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Economic viability of surviving the death of a sole provider leaving a $500k inheritance?

Consider a hypothetical scenario with an 18 year old living in the state of Maryland in the United States, in his freshman year of college studying for a four-year degree in an engineering field. He solely depends on his father (mother is not in the…
Bakna
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24
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1 answer

I am distributing an inheritance based on verbal bequests. Is this considered a gift that must be reported to the IRS?

Before my mother died recently she gave me a verbal list of bequests she wanted to make that were not in her will. Some of these exceed $14k. I will be paying them out of my own bank accounts with money I inherited from her. Must I be report these…
D Barrow
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I was contacted by a private bank overseas to get my inheritance

Someone I knew, who was in a Mexican prison, has passed away and apparently this person has left me money. The bank called me and gave me details to log into an online bank account where I could see the money in an account with my name on it. The…
user88780
18
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4 answers

What to do with a 50K inheritance

My grandma left a 50K inheritance and I'm looking for advice about the best way to use it. My husband and I have 3 kids (11, 3, 1) and are in our early 30s. We have: 60K in student loan debt 15K car loan pay 1300/month in rent and utilities have…
VickyDoe
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18
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2 answers

Can you gift someone money for purpose of investing to avoid capital gains upon inheritance?

After reading through information on capital gains tax and estate tax, I read that a heir of an investment does not have to pay capital gains on that investment. That is it's transferred free and clear as long as it's under the $11.2 million…
Travis
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Should I set up a family trust?

I'm setting up a will in the near future and trying to decide if a trust is the right way to go. I'm in my thirties, married, and have two small children. Our assets consist of our home (mortgaged), 401(k)'s, IRA's, some mutual funds, and shares…
Matt Solnit
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