Hello all.
A very good friend of mine has recieved a diagnosis about a month ago. He's been given 6-12 months before the cancer is expected to carry him through to the other side. The news hit like a freight train and we are all devistated.
I would really like to help him and his wife out by making sure all of their financial affairs are in order. Let me make it clear I am not asking for financial advice, but just some examples people might know that are "got ya's". For instance, I have heard that there is a heafty tax on inheritence. So with that in mind, it would be wise for him to seek advice on assets or funds that he can legaly transfer into his wifes name now?
They don't have much, and have lived a generous and modest life chosing to make sure those around them are taken care of before themselves. For the last decade at least, he has been on a disability pention and I would be surprised if total combined estate between him and his wife exceed's $500,000.
I relise this does not have much to do with stocks and trading, but I have found all of you people very wise when it comes to money/tax/planning. I am contemplating paying for them to speak to a financial advisor but I am not sure if thats the best person to speak to with this kind of thing. Also, because most of them charge quite a lot it would be good to know what KIND of things we should be asking about. Any opinions would be appreciated.
VeryGreen - VerySad.
A very good friend of mine has recieved a diagnosis about a month ago. He's been given 6-12 months before the cancer is expected to carry him through to the other side. The news hit like a freight train and we are all devistated.
I would really like to help him and his wife out by making sure all of their financial affairs are in order. Let me make it clear I am not asking for financial advice, but just some examples people might know that are "got ya's". For instance, I have heard that there is a heafty tax on inheritence. So with that in mind, it would be wise for him to seek advice on assets or funds that he can legaly transfer into his wifes name now?
They don't have much, and have lived a generous and modest life chosing to make sure those around them are taken care of before themselves. For the last decade at least, he has been on a disability pention and I would be surprised if total combined estate between him and his wife exceed's $500,000.
I relise this does not have much to do with stocks and trading, but I have found all of you people very wise when it comes to money/tax/planning. I am contemplating paying for them to speak to a financial advisor but I am not sure if thats the best person to speak to with this kind of thing. Also, because most of them charge quite a lot it would be good to know what KIND of things we should be asking about. Any opinions would be appreciated.
VeryGreen - VerySad.
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