Inheritance advice needed.

[tabs]

What ever your Fed, state and local tax codes are is just Boilerplate..that a good CPA can help you figure out.

the question becomes what do you do with the proceeds? That is the 64,000 $ question. If you are a believe in the "conventional wisdom of the PAST...you had an array of investment choices...RE, Bond Equities, CD's or just plain ole Cash. You could go a bit more nontraditional with precious metal commodities like Gold and Silver which do not produce cash flow. Then there is the Store House Of Value route..HARD ASSETS..Cars, Art, Coins Stamps High End watches and or Spoons etc.

One thing is very certain is that NO ASSET CLASS Is NOT fraught with EXTREME RISK. EVERYTHING is a gamble...Civilization is in a TRANSITORY era... the conventional wisdom of yesterday may not hold any water at all anymore... Take a look at Equities today, they are trading at a historic high of 125% of GDP...RE both Residential and Commercial is sitting on the precipice of of a tsunami of mortgage defaults. 30% of Renters THIS MONTH are having difficulty in making the rent. Bonds are headed towards a NEGATIVE INTEREST RATE. The FED ihas electronically printed almost 2T USD's in the past month and a half..and is headed towards putting another 4 T on the books for a total north of 10T.

Those are the FACTS...The Game has changed, it isn't about getting rich anymore...or doing well...IT IS ABOUT SURVIVAL..You BOyz had better get your heads around that FACT.

The Global Economy of Scale based upon continual conspicuous consumption is now KAPUTT..people are worried about eating and keeping a roof over their heads.. those basic needs are at risk how...check out the length of the Food Lines. Reality has suddenly hit the herd in the face and spooked it...

If you go a Precious metal route, make sure you have the asset in your hands..a proxy piece of paper will not do...

Just look at the bright side you will not have to worry about Global Warming anymore...

[Seahawk]

The value of Estate Planning cannot be oversold. If you have any worth, please, please, please take the time and effort to effectively plan your estate.

Everyone you have ever touched will be glad you did.

My Father locked it down and I was the Executor. Painless and I settled the Estate on time, under budget with no muss or fuss even though he had worth.

My Wife's Step-Father, a great guy, gooned it and four years later we are still trying to get the estate behind us...endless buffoonery at the margins. He was worth a substantial amount and failed to, thought in error, that his Son would be a man.

Nope. A Will is not a prayer.

Plan your estate, be specific, have an ironclad Will and pick an assassin as your Executor. Talk to the Executor once a month or so.

Sorry for the rant, OP. Best to you.

[sugarwood]

Tabs is mentally ill.
He is a homeless divorced man who called for the end of the world since Truman.
He shorted the market 30 years ago and went broke and has ZERO assets.
He is basically the UnaBomber, without the education.

1) Ignore Tabs.
2) Open Vanguard account
3) Stick it all into the correct fund for your age
4) Drink beer

https://investor.vanguard.com/mutual-funds/target-retirement/#/

[wdfifteen]

Consider a trust and a pour-over will in your estate planning. My attorney and my financial planner very strongly recommended them for me.

Put on your foil hat now:
My lawyer neighbor told me this, pertains at least to some counties in Ohio - the bank is required to inventory your safe deposit box and not let anyone in it upon notification of your death. Sounds strange to me, but there it is. Keep in mind she spent her career as a prosecutor and she's had some goofy ideas about various things in the past.