My finance is getting a a back-pay SSI settlement of nearly 70$
within the next few months. We have been discussing what exactly to
do with it to help it grow into more. Our high priorities are getting
a house, getting a new vehicle, then investing the rest in various
places.
I've heard some of my other friends talk about a "holding trust" to
place assets in. These will probably range from a interest bearing
savings account, an IRA, day trading stock fundings, part ownership in
a computer consulting company, and part ownership of a nightclub
venue.
I'm not sure if it's possible, but I would like to be able to put
everything under one separate entity, so we can have her as the
executor or such, and her two kids (15 and 14) as the beneficiaries.
We may work in some type of for-college investments, and trying to
turn over part of it into profit within three years.
Her biggest fear is getting caught up in taxes, or having too many
assets in her name and SSI freaking out.
Any suggestions or ideas? We live in Oklahoma, both age 34, if that
helps. We plan to talk to an accountant once the first lump some hits
our account, what should we have prepared hand to get the ball rolling?
--------------------------------------
Misc.invest.financial-plan is a moderated newsgroup where Moderators
strive
to keep the conversations on-topic for financial planning. Other posting
guidelines include a request for brevity and another for trimming posts to
which we respond. For all of the other tips and suggestions, see "FROM
THE
MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on
the
Newsgroup.
|
