Inheritance

The only brightside to the loss of several family members in the last year is that my wife and I are coming into a considerable sum of money.

Ed wrote:The only brightside to the loss of several family members in the last year is that my wife and I are coming into a considerable sum of money.

You should keep this private. Why discuss this on a internet board???

Manarocks wrote:

Ed wrote:The only brightside to the loss of several family members in the last year is that my wife and I are coming into a considerable sum of money.

You should keep this private. Why discuss this on a internet board???

It's not like I'm showing anyone my bank statements. Actually I am wondering if anyone else has had to handle this kind of thing with the tax ramifications and things like that.

Ed wrote:

Manarocks wrote:

Ed wrote:The only brightside to the loss of several family members in the last year is that my wife and I are coming into a considerable sum of money.

You should keep this private. Why discuss this on a internet board???

It's not like I'm showing anyone my bank statements. Actually I am wondering if anyone else has had to handle this kind of thing with the tax ramifications and things like that.

You should go see your accountant for this kind of information.

Manarocks wrote:

Ed wrote:

Manarocks wrote:

Ed wrote:The only brightside to the loss of several family members in the last year is that my wife and I are coming into a considerable sum of money.

You should keep this private. Why discuss this on a internet board???

It's not like I'm showing anyone my bank statements. Actually I am wondering if anyone else has had to handle this kind of thing with the tax ramifications and things like that.

You should go see your accountant for this kind of information.

Believe me, I will be.

...

happytrails wrote:Are you having to act as an executor? That's where a lot of the headaches are, especially if there are siblings involved. If you're only talking about what happens when you finally start getting your checks, then yeah a good accountant will help you out. It shouldn't be too much of a big deal if you are just receiving money and not real estate etc. which can sometimes be a huge pain to deal with.

I believe my wife's sister is the executor. I think the biggest decision will be what to do with her mom's 401K. Roll it into an IRA, or just take the hit and use the cash now since the market sucks. There's also the sale of her house, which she owned outright, and some other accounts.

We are also having to adopt her cat, which I'm not thrilled about. However, I'm going to take one for the team and do it.

If you wanna front any extra funds this way you and I can start a south Georgia chapter of the Fighting Gator Club....

...

Ed maybe take this to PM instead of discussing private matters on an open forum.

Manarocks wrote:Ed maybe take this to PM instead of discussing private matters on an open forum.

It's not like you are getting the amounts. Just speaking in generalities.

Manarocks wrote:Ed maybe take this to PM instead of discussing private matters on an open forum.

It's his matter, so I think he's entitled to discuss it as much or as little as he wants... right?

Ed wrote:

Manarocks wrote:Ed maybe take this to PM instead of discussing private matters on an open forum.

It's not like you are getting the amounts. Just speaking in generalities.

Then go to your accountant my man. It's is your family private affairs.