#169 Life Estates, Early Retirement

When aging parents ask you about estate planning or transferring a house into your name from their names, you should seek the advice of a good estate attorney before making any decisions.

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Mary Ellen and JP both had questions about the pros and cons of creating life estates. This can be an excellent way for your parents to remain in their homes; protecting them from nursing home liens; avoiding probate; and retaining the ability to receive a step-up in cost basis upon death.  Of course, there are downsides too...

Along those lines, Dawn asked about creating a trust for her assets to protect them against being devoured in the event that she requires costly long-term healthcare.

We helped Linda determine whether $1.4 million is enough to retire at age 55 and discussed how Carol might handle a $300,000 inheritance.

If you hold a lot of your company stock in your 401 (k), pay attention to my conversation with Dan--you'll learn an easy way to extract company stock in a tax advantaged way!

Thanks to everyone who participated and to Mark, the BEST producer in the world. Check out Mark's first-producing credit for this CBS Evening News segment that aired recently. If you have a financial question, there are lots of ways to contact us:

  • Call 855-411-JILL and we'll schedule time to get you on the show LIVE 
Radio ShowMark Talercioasset allocation, bonds, Financial Advice, Financial advisor, financial planner, FPA, Insurance, investing, IRA, NAPFA, Retirement, Roth IRA, Stocks