The Money Mustache Community
Learning, Sharing, and Teaching => Investor Alley => Topic started by: MustacheCash on June 19, 2017, 07:55:46 AM
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I have an unusual circumstance, one that I never thought I would ever have. I was not prepared for this, which is why I am asking for ANY and ALL opinions on what to do. Please help!
My father recently passed away and unbeknownst to me, had an annuity that after all of the BS fees and everything, the payout should be around $150,000. My mother is still alive and well (in her early 80s), but I am "in charge" of it and the money will eventually be split between 3-4 people. I am not sure of the time line, but I am thinking 5-20 years before anyone would want/need it. She wants it accessible if needed. I initially thought a brokerage account of a 50/50 split of VBTLX (Total Bond) and VTSAX (Total Stock Market). Should it be a taxable account? Should it be in my name or her name? Joint account?
Please tell me why I am wrong and any advice is welcome. Thank you so much in advance!