Ok, so my aunt passed away about 2 years ago and had a large life insurance policy which my grandmother inherited (1.3mil). I just found out that my grandmother has been keeping the entire amount in her credit union checking account.
My thought is that she should go to a financial adviser and do "something" with the money. Or at minimum cut the 1.3 up so that it's under the insured limit at several different banks. Obviously she's not looking to invest the money for returns but I think that putting the entire amount in one account is just a bad idea. Any advice I can give her would be appreciated.
edit: My grandmother is receiving a union pension and social security that covers most of her day-to-day expenses if that matters.
Submitted January 24, 2017 at 03:08PM by Hiredgun77 http://ift.tt/2jWpvUF
