/https://www.thestar.com/content/dam/thestar/life/health_wellness/2019/05/27/money-for-life-if-my-estate-from-my-mother-goes-to-my-children-my-wife-will-be-destitute/couple_with_adviser.jpg)
Money for Life: If my estate from my mother goes to my children, my wife will be destitute
ARTICLE CONTINUES BELOWThere is a solution: you could purchase a life insurance policy to cover the risk of you dying before your mom. So, either you and your wife will inherit from your folks or she’ll receive the proceeds of the life insurance policy. In my example, a $500,000 life insurance policy on a 65-year-old, non-smoking male will cost about $390 per month. The insurance policy in my example guarantees that monthly cost at less than $400 — but only for the next 10 years. In that case, you could simply cancel the insurance policy because it would no longer be needed.
Source: thestar May 27, 2019 03:56 UTC
