A large inheritance received during a time of grief would seem like a great comfort. Without proper thought and consideration, though, that windfall can create more problems than solutions.
Dying debt free in Los Angeles may be a goal, but it's often not a reality. In many states, leftover debt following a person's death is an estate's problem, not a direct concern for heirs. In California, community property laws sometimes force surviving spouses to pay a deceased spouse's bills.
Los Angeles residents may overlook the valuable, invisible assets they own known as intellectual property. For estate administration purposes, website domains and blogs, images, art or music you share through social media sites are assets that belong to you and, if you so designate, your heirs.
Silly Bands and Pogs from the 1990s and Cabbage Patch Dolls from the 1980s were collectibles that some people bought in quantity, with the idea that someday those childhood toys would be "worth something." Other than niche buyers, who today values a Cabbage Patch Doll the way they did in 1985?