So firstly, hi! I (M32) am completely new to finance and handling $ over 4 digits.
I have been told that I'm getting a quarter-mil USD inheritance once I turn 35 in 3 years. I can't directly use the money before then, but the executor is asking where I want the money invested/held until it's transferred to me. It would more than wipe out all of my debts and have me good to go on almost any new path I wanted. I like my lifestyle now and wouldn't want to change it no matter how much money I have when all is said and done.
My short term goals (3 years) for the money are to beat inflation and prepare ways to avoid paying out the nose when I get control of it (I am in the US).
-The executor and I are both wary of the stock market; I don't want to be glued to the ticker and the executor is keen on keeping money in relatively liquid vehicles. I'll be preparing suggestions to send to the executor for banks with deposit bonuses and HYCAs. Any suggestions?
-To avoid income/gift tax, would one way be setting up an LLC, having the money owned by the LLC, and I simply be put in charge of the company?
Submitted November 01, 2018 at 06:13AM by OvereducatedNPC https://ift.tt/2qprLWt
