I do not know where to find out this information so I decided to post here as a place to start.
I am receiving an inheritance, divided up between 3 brothers, from a deceased parent in the form of cash, a traditional IRA, and a life insurance policy. I am in the process of receiving the cash and am putting it into a money market account at my credit union. My plan with that is to pay off my debt including car loan but not including student loan (until I can figure out how much will go to taxes), and then just letting that sit for awhile (until I figure out the taxes part). The rest is in the form of an IRA and an insurance policy. All of this is divided up between three brothers. I can't tell how much my portion of the IRA or insurance policy is worth or the total values.
Concerning the IRA my plan is to re-title it in my name but I need help deciphering the documents and making various choices. Not sure what to do with the insurance policy or what my options are and again I need help deciphering the documents. I am an adult working student, 48, and using a government loan to go to school. I am also not set up very well for retirement with only a paltry 401k through my employer. I am wondering if/how I can use the IRA to pay for school while letting it grow or should I use the cash to pay for school while taking income from the IRA so that I can work less and study more or set the IRA up for aggressive growth geared towards retirement? And what other options are there?
Who can I go to to find this stuff out and get help deciphering the documents? I am a member of two credit unions. One offers free financial advice. The company holding the accounts is a bit impatient on the phone so I am wary of calling them with basic questions and feel the same way about seeking advice from a financial planner. I feel like they are going to tell me to go figure it out and come back when I am ready to plan.