Do You Have to Pay Taxes on Inherited IRA?
Tax rules on individual retirement accounts (IRAs) are different for inherited IRAs. Some differences are positive.
Tax rules on individual retirement accounts (IRAs) are different for inherited IRAs. Some differences are positive.
Children and grandchildren motivate us to think about a will and life insurance. However, it is problematic to name minor children as beneficiaries.
It’s true that if your child is on your deed as a joint tenant on your home, your home will not have to go through probate if your child survives you. At your death, your surviving child would immediately become the sole owner of your home without probate and with minimal transfer costs.
In today’s digital era, the departed will be survived by their electronic footprints, such as iPhone photo albums, Spotify playlists—and cryptocurrency wallets.
Your estate planning is done, but is it? A periodic review is an important ongoing step to your planning.
A competent elder law or estate attorney can discuss and use, where appropriate, such provisions as the family exemption, benefits to prepaying inheritance tax, even where the tax return is not yet complete and a listing of itemized deductions.
If you do not plan appropriately and thoughtfully, problems may arise with respect to this property and your family when you are gone.
Seeking a guardianship for a loved one is a decision that shouldn’t be taken lightly. Here’s how the process works.
It’s generally recommended that you review your will and other end-of-life documents at least every few years, although there can be reasons to do a checkup more often.
No one likes doing taxes, but the task is even more daunting when filing a return for someone who has died.