Home > Tag Archives: inheritance

Tag Archives: inheritance

How Much Money Do You Need to Have?


We would all like to have enough money to do the important things: live life, retire comfortably, educate our children, and so on. More importantly, how do you make sure that you have enough to reach these various goals? Careful planning is essential, but you need to start from the bottom and work your way up to the big goals. ... Read More »

The 5 Toughest Challenges of Inherited Wealth


If you are ever in a position to inherit a large sum of money… or if somehow you find out you are a “beneficiary” of a trust… would you know what questions to ask or know what to do? Although inheritors of large sums of wealth – say, $ 10 million or higher – are few and far between, it ... Read More »

I Inherited Some Money But Unemployed. The Money is About Gone and Left In Debt. – Jane

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“Dear Steve, I have been unemployed since 2010. I had inherited some money when my father passed away in 2005 and was able to continue meeting my needs and paying my bills. Unfortunately because of emotional issues, I really did not have a good grasp of the kind of money I was spending. I was able to renegotiate my mortgage ... Read More »

How Should I Use My Inheritance to Reduce My Debt? – Jason


“Dear Steve, Huge amount of credit card debt. One card 40K @ 7.99%, another 7K @ 11.99%, 8.5K @ 3.99%, and 4K @ 21.99%. Plus, 2 car loans total 20K @ 6.99%(these vehicles are used for work/pleasure – 85/15). My income is down from an average of 100K to now about 45K( economic influences beyond my control). We also have ... Read More »

Do You Have a Will? If Not, It’s Time For You to Write Your Will.

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It’s a subject that none of us want to think about. Whether we’re young and just starting life or older and approaching the end, we don’t want to think about our own death. And, adding money to the mix only makes it worse. But, the truth is that all adults need to think about what will happen to their financial ... Read More »

Can Student Loans Take Part of Our Inheritance? – Lisa

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“Dear Steve, My husband is recieving a 22.000.00 inheritnance, he has student loans out there, Student loans take a percentage of his disability, my question is can the Student Loans take his inheritnance money? We want to pay our credit cards off, pay my mother back for money borrowed and put back money in my savings account that he has ... Read More »

Will We Be Able to Keep An Inheritance in Bankruptcy? – Jeff

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“Dear Steve, Due to business going bad, serious health problems that has prevented me from working regularly, new jobs closing, caregiver to aging parents, death of 3 of our 4 parents in past 2 years, victim of builder fraud, we were forced into bankruptcy chapter 7. Your site has proved helpful to get us over the barrier to just make ... Read More »

Should I Wait For Grandma to Die So I Can Pay My Debt? – Jack

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“Dear Steve, I have credit card debt of $95000, 2nd mortgage of $40000, 1st mortgage of $140000. My house is worth perhaps $300000. I make $115000 annually plus bonus in good years of 15%. This wasn’t a good year, so there was none. My stock options are now under water (worth zero). I’m using my IRA to fund my daughter’s ... Read More »

Should I Use an Inheritance to Pay Down My Student Loans? – NW

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“Dear Steve, My father passed in 2008. He left me approx $50,000 from his 401k account. I’m able to leave the money in the account for 3-5 years. At that time, I’m considering using that money to pay down my $109,000 student loan consolidated debt. Will the tax liabilities be worth it? My current gross income is $54,000. I have ... Read More »

I Don’t Want My Parents to Lose Grandma’s House. – Charlie

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Charlie “Dear Steve, Hi i have a question for my parents maybe u can help i not in debt i very respoble with my money even though i only make very little. My parents are 59 yrs old they have 90,000 worth of credit card debt grandma gifted i guess the land and house she has life use of the ... Read More »

Should I Be Worried They Will Take My House? – Sarah

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“Dear Steve, Divorced, accumulated at least $15000.00 in unsecured CC debt and owe on a car loan. I was recently laid off and cannot meet my bills. I stand to inherit the house I live in, and maybe 10,000. in cash. Should I apply for bankruptcy, I would want chapter 7 but am afraid they would take my house with ... Read More »

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