#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