I shall preface this post with the comment that I am the type of person who prefers to pay off my investments as soon as practicable (so that my adult children will not be left with the responsibility of debts/loans that I have incurred.)
In the near future I am anticipating that I will have about $100k from the sale of my Mother's home/estate, (this after allocation of a reasonable portion to those children and a future development project).
My instinct is to pay that money off a recent IP loan (reason mentioned above) on which $400k is owed. After reading lots of posts in recent days, I know that this will go against the grain of many SS's. However, I need to mention that I have no intention of liquidating the said IP for a very long time.
Would appreciate some feedback so that I can be armed with questions when I go and talk with my lender and accountant.
Thanks,
Frizzle
In the near future I am anticipating that I will have about $100k from the sale of my Mother's home/estate, (this after allocation of a reasonable portion to those children and a future development project).
My instinct is to pay that money off a recent IP loan (reason mentioned above) on which $400k is owed. After reading lots of posts in recent days, I know that this will go against the grain of many SS's. However, I need to mention that I have no intention of liquidating the said IP for a very long time.
Would appreciate some feedback so that I can be armed with questions when I go and talk with my lender and accountant.
Thanks,
Frizzle