Susan, a referral from a colleague, is a recent widow. She called and wanted to know my thoughts on using her late husband's life insurance proceeds to pay off their mortgage.
On the surface this seems like a reasonable idea, however, I didn't want Susan to make a quick decision she may regret later. We met to review the pros and cons of her idea, including a special rule on the home sale exclusion amounts for widows.
Click here to continue reading my article on Kiplinger.com - "Should a Widow Pay Off Her Mortgage?"
If you lost a loved one, or know someone who did, please feel free to email me for my complimentary Survivor Planning Brochure.