This is my year of seemingly endless financial paperwork. And to think it doesn’t even include buying a home. This year I am focused on the following.
First and foremost is unraveling my mom’s mysterious annuity. I submitted the application to set up the rollover account. During that process I gleaned some helpful information from my Fidelity reps.
Once the rollover account is set up, I can submit the death claim form. Hopefully that submittal results in more information from the insurance company about what we are dealing with. I may have some tax issues and may even need to amend my mom’s last return, but it is too soon to say. Between two financial institutions and the IRS, I just need to be patient and dogged.
Another financial paperwork slog is cashing out my whole life policy. I want to do this before the end of the year, so I don’t have to pay another premium. Here won’t be a tax implication, so it is merely wrestling the money back from the insurance company and putting it into savings.
Another item on this list is sending my niece and nephew their money from their grandmother. This means I have to put my big girl panties on, be an adult and contact that side of the family. I may start with them just to get this done. I still am not sure what I want to do with my brother.
Another financial task is moving my brokerage account so I pay less fees. It isn’t too big a deal right now, but it will add up over time. I gotta get it done, so I might as well add it to the list.
This is all good, positive stuff to be dealing with. Only two years ago, I was $50,000 in debt with almost half going to the IRS. I was having anxiety attacks just trying to deal with it all, so I was avoiding it to my detriment.
Today I am so proud of the fact that I am approaching all of these items with a clear, level head and zero angst. OK, there is angst about the family contact, but that is unrelated to finances. Instead of panicking, I have been rolling my eyes and rolling up my sleeves so I can chip away at the paperwork. Hooray! What a huge improvement!