5 Common Pitfalls When Inheriting Money and How to Avoid Them

By Danette Lowe, CFP®

Tim’s mother passed away and he is about to inherit a substantial amount of money. Tim is married for the second time, he has two children from his previous marriage, and he has two younger brothers. As the executor of his mom’s estate there are a lot of issues for him to consider.

Tim and his mother were particularly close and he’s deeply saddened by her loss. In addition to his grief, his youngest brother is anxiously awaiting money to be distributed and has threatened Tim with a lawsuit if he doesn’t hurry. His first wife is worried that his current wife will take all of his inheritance and not leave anything for his children. Tim’s uncle is having financial difficulties – he claims Tim’s mom was about to loan him some money and he wants Tim to honor the loan. Tim’s current wife is planning a major vacation and a new car purchase and he like to know if he can retire early.

Remedies are dear, and sometimes folk cannot buy the remedies they need. What points families think when they plan to get some medicines? For instance Antibiotics are used to treat bacterial infections, such as certain ear infections. It works by killing the bacteria causing the infection. Cialis is the best-known remedy for helping men to sustain an erection. Many patients think about http://isviagraoverthecounter.com/over-the-counter-asthma-inhaler.html. For all one knows you know about Matters, like , are united a lot of types of health problems. Many perchance say the forcefulness of Cialis is well documented. Unhealthy lifestyle choices, stress, some diseases, and some medicaments can reduce your libido. Depression affects all aspects of being including sex drive. Some patients using this medicament mostly do not have potentially serious side effects to Cialis. Stop using this curing and get medicinal help if you have sudden vision loss.

Read more: 5 Common Pitfalls When Inheriting Money and How to Avoid Them

Gathering And Organizing

At any stage in life, it is important to have easy access to important documents. For example, for your own planning and decision-making purposes, you’ll want to be able to easily determine your assets (what you own) and your liabilities (what you owe). You will also need to know where key papers and documents are located. Once you have the documents you need, it is a good idea to store them in a safe deposit box or fireproof home safe.

Read more: Gathering and Organizing

Keeping Connected: 3 Tips for Grandparents

For many people during your 50's and 60's, you may have the pleasure of being or possibly becoming a grandparent. The rewards of family life grow even richer as each new grandchild enters the world, it’s an amazing thing. This baby represents so many things, including your new identity as a grandparent.

You may have had the joy to help raise that child, to teach them how to walk and talk, with the luxury of no diapers to change or crying babies to wake you up in the middle of the night. And as many may tease, you’re the grandparent now; you can spoil them as much as you want!  As they grow into little toddlers and light up every time they see you, running towards you to leap into your arms, an amazing bond is formed. 

Read more: Keeping Connected: 3 Tips for Grandparents