Most people would not consider digging up their father’s grave for the sole purpose of securing a DNA test to prove that the man listed on their birth certificate is not their real father. A woman in New York did just that.
Read More »Why Do You Need a Will?
This article gives the example of a businessman who had named his son as the nominee in all his investments. Since the son was managing all the father’s investments, it was convenient. But since the businessman passed away without making a will, now his daughter is finding it difficult to prove that she, too, has […]
Read More »Inheritance Scam Leads to Jail
People have probably been attempting to scam others out of their money for as long as money has existed. Many different schemes exist that people fall for over and over again. Recently, people have been falling for a scam involving fake inheritances. However, if the scammer is caught the result is likely to be jail […]
Read More »Why Gifting Might Be Better than Leaving an Inheritance
Many wealthy Americans wonder whether they should give money to their heirs during their lifetimes or leave it as an inheritance. There are many aspects to the decision. However, if taxes are a concern, then it might be better to give the money now than to leave an inheritance. Some people struggle over whether […]
Read More »Counting on an Inheritance to Retire
A new survey suggests that many Americans are counting on receiving an inheritance to retire on instead of saving enough for retirement themselves. This has the potential to create disasters for several reasons. Recently, CNBC published the results of an inheritance survey about the retirement plans of people from several nations. The survey included […]
Read More »Bad Grandma!
We usually think that we can trust our relatives, especially our grandparents. However, a recent story out of Wisconsin details how one grandmother lied and stole her granddaughter’s inheritance. When Betty Coleman’s ex-husband passed away, he left a $50,000 inheritance for their granddaughter. Coleman lied in court about her criminal past so she could […]
Read More »Heir Alleged to Have Blown $3.5M
Many trusts are designed so that a beneficiary receives trust income during his or her lifetime with the remainder of the trust going to someone else after the heir passes away. These trusts often cause disputes between the beneficiary and the remainderman, illustrated in a high profile New York case. Irving Bender became the beneficiary […]
Read More »A Different Sort of Inheritance Scam
Scammers have long sought to use inheritances in their nefarious plots. A woman in Brooklyn is accused of using a new twist to scam her friends out of money by making up an inheritance. An old fraud has a scammer pretending to be an attorney or estate agent. The fraudster will tell a potential victim […]
Read More »What to Do with an Inherited Roth IRA
Different financial instruments have different rules about what can be done with them. The same thing holds true when you inherit the instruments. If you inherit a Roth IRA, the rules are different than a traditional IRA and you need to know what you can do with it.
Read More »Getting Younger Heirs to Invest
As is always the case, people in their 20s today have different priorities than their parents and grandparents. Younger priorities often do not include investing in the stock market. This has caused some consternation on Wall Street because today’s young adults stand to inherit a lot of money from their parents.
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