My great grandma is considering this, is it a good idea and pretty well foolproof, if anyone out there has a legal brain?
2006-10-27 04:50:19 · 4 answers · asked by lottie 3 in Business & Finance ➔ Personal Finance
HIGHLY recommend you seek out a Certified Financial Planner. Great-grandma's estate will get hit with big taxes when she dies (estate tax) unless she protects it with some kind of trust.
You need a professional to look at her situation and help her - don't rely on Yahoo!
You can find a CFP in your area: http://www.cfp.net/search/
2006-10-28 03:42:16 · answer #1 · answered by Z Z 2 · 0⤊ 0⤋
She should look into a Grantor Retained Annuity Trust. Fina an attorney and discuss that.
2006-10-27 07:03:00 · answer #2 · answered by rdnkchic2003 4 · 0⤊ 0⤋
It can work well but it depends on Grandma's personal circumstances. Make sure she's received comprehensive advice. If she hasn't had a written report, she should get a second opinion.
2006-10-27 04:53:54 · answer #3 · answered by Anonymous · 0⤊ 0⤋
She needs to speak with a financial advisor. Where do you live?
2006-10-27 04:53:29 · answer #4 · answered by pretzel2222 3 · 0⤊ 0⤋