This is a case when no one wants to see in their future. it is something we need to prepare for that eventuality, if it is difficult for you now then the choices would more difficult to your family. I find this as a way of caring for our loved ones that we leave behind. While my Mom and I don't always agree on things, I knew by the end of the day she still cared for my well being.
I'm fortunate to have knowledgeable friends to rely on for resources. And with a basic plan reasonably in place I often teach and advise my sons on what to do with my assets when I pass them on. For example my eldest son may need equity for a business loan, say $100K, he can put the family gold up as collateral to buy into that business without losing control of owning the gold. No capital gains tax is triggered in the sale of the gold. The cash borrowed interest is tax deductible as long as there is a decent cash flow. Sweet!
There is so much ground I can cover.
It can get overwhelming and emotional.
Keep it simple.
One step at a time.
!LADY
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LOHtokens.@kerrislravenhill, you successfully shared 0.0100 LOH with @thisismylife and you earned 0.0100 LOH as tips. (1/30 calls)
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