My Dad purchased whole life insurance through AXA Equitable which is all paid for. What happens if the life insurance company goes bankrupt or their assets are under water like so many other financial institutions these days? Will the benefits still be payable?

I also think it’s strange that he had to pay 0 more to this insurance company as an "adjustment"(?) recently even though the policy was fully paid for a long time ago. Is this normal?

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If someone had cash and other assets during his death and after his death some stocks, lets say 1,000 stocks of A corp. were bought with that cash before the estate is distributed to the beneficiary, then what will be the value of those 1,000 stocks in his estate tax return? What will be the beneficiary’s basis of those 1,000 stocks? What code section deals with this situation?

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I’m currently on a repayment plan on a rental property for the 1st mortgage. The 2nd has been charged off by EMC mortgage and sent to an outsourced collection company called LCS. Does anyone have any experience on how to deal with LCS and what rights I have to settle this 2nd mortgage. Can they freeze my assets? Will they seek a Judgment?

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With a 300,000 reverse mortgage need a will.

This should honestly be one of her very last concerns.
If she dies, the house goes straight to the bank
Obviously a person in this scenario would have little assets, since a reverse mortgage is the last resort to money problems.

What would the will cover?
I’m leaving you with high credit card debt, unpaid property taxes, a leased Lexus SUV?, etc?
Oh, and you get the house, it will just be worth nothing since it belongs in full to the bank?

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My husband is short selling our house (only his name is on the house) and I am buying a more affordable house (in my name only) cash. We were informed that in short sells, the lender collects his assets and have the right to liquidate them to get the difference. He do not have anything but his retirement. Will the come after the house that I will buy in my name??

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I’m worried that if Obama is elected, lots of people will sell off their assets before the doubling of the capital-gains tax takes effect.

And I am worried that this will add on even more financial problems than we already have.

Anyone else worried about this?
.

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They claim to be able to help you get control of your debt and teach you how to stay in control of your assets. I have a fellow worker who has been trying to get me to allow Primerica to help me.

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FDIC insurance only covers up to 100k per insurer. Once I pay myself from my company’s account, I can move nearly all those assets elsewhere, but that won’t be until January.
This money is in banking, not brokerage so SIPC is not applicable. I don’t see why I cant do this myself and why I would need a professional.

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I know that its debts and assets will be sold to other banks. The question is when? Will the sale of its mortgages have to wait until the bankruptcy proceedings are over and it is decided what goes to what bank?
If so, what would happen with delinquent mortgages during this time which is sometimes more than a year ?
Another example would be New Century Financial which has already started bankruptcy last year in April. What happened with some of their mortgages that became delinquent while the bankruptcy was going on?

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My father recently passed away and Im trying obtain his assets without spending the huge amount on probate. Is there a way to do this? Do banks allow that?

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I’m guessing a young person would have longer to invest, so they would want mainly equities which have a higher rate of return over-time than fixed-income assets. What would a soon-to-be retiree want to invest in? Please help me expand on these ideas. Thanks!

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I have heard that you can often avoid the standard fees/loads associated with institutional mutual funds if you go through a financial advisor/planner. Is this generally true, or is it the exception? Also, are there any other ways to avoid those fees/loads? I am trying to decide if it is worth having my financial planner get 1% of my assets even though I am perfectly adept at doing the research and picking funds/stocks myself.

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I’m 63 years old and completely without any assets other than a small income from social security. My wife of many years abandoned me after stealing our entire retirement savings.

I have some medical problems which I can’t afford to have taken care of, and so far have not been able to find any sort of assistance which is available to me.

What can I do, or am I just out of luck?

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I’m looking to save my mom’s assets & need a good elder law lawyer who wants to take my case.We have a house & cds to which i’m supposed to inherit.How can i get her on medicade without spending down all her money?

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My father passed away and being that he was not married and I am his son, I need to handle his accounts, and probably start probate. How do I locate his bank accounts and the balances he has in them? How do I locate any other assets he had? I do not know anything about his finances and have no idea where to even start. Thanks!

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