Sunday, April 22, 2012

My Parents' Estate

Now that both our parents have passed away, my sister and I have the task of closing their estates and transferring their assets to the heirs, which are my sister and me.    Being a person that was highly involved in personal finance, Dad created a lot of complexity for their financial assets.   My parents had revocable living trusts, stock brokerage accounts, IRAs,  Roth IRAs, numerous dividend reinvestment plans (DRIPS), land, a real estate partnership and a home.    So it will take some time to contact all the various organizations to transfer title, and we will need to get their home cleaned up to prepare for selling.

It's good that my part time retirement jobs are mostly ending in April and completely ending in May.  I expect that working on my parents' estate will require a significant amount of my time over the next few months.

For more on New Beginnings, check back every Sunday for a new segment.

This is not financial advice. Please consult a professional advisor.

Copyright © 2012 Achievement Catalyst, LLC

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