Navigating Property Transfers and Life Insurance Considerations

This chapter explores the financial implications of transferring property ownership among family members prior to death. It emphasizes the importance of understanding tax consequences, the benefits of inheritance, and the need for adequate life insurance to safeguard families financially.

Transcript

chevron_right

Play full episode

chevron_right

Transcript

Episode notes

📈⁠⁠⁠⁠⁠⁠ ⁠Are you on track with the Baby Steps? Get a Free Personalized Plan⁠⁠⁠⁠⁠⁠⁠

George Kamel and Dr. John Delony answer your questions and discuss:

"How do I best use cash I receive from a settlement?"
"My grandfather's inheritance wishes go against the Baby Steps"
"Should we live with my in-laws in order to be included in their will?"
"Should I build a large house to accommodate family that we're no estranged from?"
"I'm $600k in debt and drowning. How do I start paying this off?"
"I'm upside down on a car that needs serious repairs. What should I do?"
"How do I stop investing while paying off debt?"
"My husband thinks if I take a part time job it will set a bad example to our kids"
"Should we use our Roth IRA to pay off our house?"

Next Steps:

💰How much do you need to invest each month to retire a millionaire?

✔️⁠⁠⁠⁠⁠⁠ ⁠Help us make the show better. Please take this short survey.⁠⁠⁠⁠⁠⁠⁠

📞 Have a question for the show? Call 888-825-5225 weekdays from 2–5 p.m. ET or⁠⁠⁠⁠⁠⁠ ⁠send us an email.⁠⁠⁠⁠⁠⁠⁠

📱 ⁠⁠Get episodes early in the free Ramsey Network app!⁠⁠ ⁠⁠⁠⁠⁠⁠

📖 Your Total Money Makeover starts here.

🧠 Explore our high school personal finance and new economics curriculum.

💵⁠⁠⁠⁠⁠⁠⁠ ⁠Start your free budget today. Download the EveryDollar app!

Connect with our Sponsors: