Can You Get a Loan on Your Inheritance?
Can You Get a Loan on Your Inheritance? Here is a new idea for people inheriting property: You can, in fact, take out a loan on your inheritance! Why would you want to borrow money against your inheritance? Let me explain. It is pretty common for children to inherit a house or houses as part of a parents’ Estate Plan. Sometimes, however, more than one kid (beneficiary) wants to have the house but there is not enough money in the Trust (or Estate) to give the house to one and an equivalent amount of cash to others. So what do you do? How can you make an equal distribution to all the...
Read MoreWhat is a Complete Estate Plan?
What Is a Complete Estate Plan? Questions from Tuesday’s Word On Wealth radio show, www.KPRZ.com Q: What is a “complete estate plan”? By referring to a “complete estate plan” I mean the documents used to create a complete estate plan are as follows: 1 – Revocable Living Trust 2 – Will 3 – Guardian Designation 4- Financial power of attorney 5 – Healthcare power of attorney 6 – Assignment of personal property 7 – Comprehensive transfer of property 8 – Deeds to transfer real property 9 – Certification of Trust Q: How...
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