My Mother passed away in September, today in the mail I received a notice from her life insurance policy naming me as a beneficiary ( I have three older sisters and I do not know if they received a letter) I talked with my father about it as I need the death certificate for proof, he informed me that it may be around $10,000. regardless of the amount no matter how big or small it's not something I feel I can spend on frivolous things like gas and concert tickets or other debts. I currently work in a field where I am paid well but I've just gotten back into it so funds are a bit tight right now for me. so Overall I have two questions.
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I owe the VA for back pay and the Federal Reserve pretty much takes my return (which is fine since I'm now classified as an I-9 and not a W-2) can / will they take the amount from me when I go to collect.
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I know a mass majority of you will tell me to talk to a professional, this is already in the works as it is Saturday so I'm planning on setting up a meeting on Monday. but my question to you is what are some of the smartest moves I can make with this money to make it grow? Mom was always worried about me (being her only son, I really wished she didn't but that's what mom's do)
I would like (In my ideal world) to put it away somehow and add to it over time, basically make that money work for me make it so that if I ever felt the need to take some out to use for a new truck for work, or just let it be and grow into a good nest egg for my future I can.
Thank you for responding in advance, Ill most likely close this post after 48 hrs as this is my throw away.
TLDR; Mom passed away, Im getting life insurance money, afraid of the federal reserve taking it to pay off VA hospital bill, want to make that money grow and work for me, looking for best advice.
Submitted February 23, 2019 at 02:22AM by throwaway0431263 https://ift.tt/2GZBpJ0
