Inheritance
When someone dies, their assets usually go to their heirs. This is what’s known as an “inheritance,” and it can include everything from money to cars to property to stock options to sentimental bits and baubles. Basically, if someone owns it and then they die and it is gifted to someone else as a result, it’s an inheritance.
Of course, just as with everything else in life (and death), inheritances can get complicated. If the person had a will, that makes it easier to figure out who gets what. But beyond that, we as potential heirs also need to consider things like estate taxes, any income the deceased person is due (like from a salary or stock options), the laws of the land (like community property laws), and any debts they might have owed before they bought the farm. Accountants, financial planners, and lawyers can all assist us if we have any questions about our own inheritances…or about what we plan to gift to others once we shuffle off our own mortal coil.
Related or Semi-related Video
Finance: What is a Closed-End Fund?1 Views
Finance a la shmoop what is a closed-end fund? well it's a type of mutual fund [Man approaches mutual fund desk]
only like a bank at any convenient time it's closed
like its assets are enclosed in its price closed means that the fund itself
doesn't actively trade assets back and forth inside of it on a daily basis like
the most famous closed-end mutual fund in the world is Berkshire Hathaway [Man pushing pram of a baby with Berkshire Hathaway briefcase for a head]
Warren Buffett's you know other child the successful one it owns 40 or 50 key
assets from Geico to train companies to metal machinery firms in Israel to
boatloads of shares of stocks like coca-cola and Gillette and Wells Fargo
all of those assets are wrapped up in a tidy BRK bow and the stock market values [Stock market values appear]
ticker BRK daily by trading it back and forth among investors so yes the assets
inside of the fund do change but in an analogous mutual fund that is open the
value placed on the shares is at what is called net asset value, that value is
calculated by just adding up the 843 stocks at the mutual fund owns or however
many the number is and then just calculating a value based on the number [Calculation appears]
of share units comprising that open end mutual fund the closed-end fund has no
changes that way it's just investors valuing the whole bucket of investments
in one closed number now if you'll excuse us we have to get back to [Baby crying in a crib with Berkshire Hathaway briefcase for head]
babysitting for Warren Buffett isn't she just an angel
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