October 12, 2021 •
Estate Planning ![]()
If you’re planning an inheritance, be careful about leaving these assets to a loved one. They may create more trouble than they’re worth.
Read MoreSeptember 23, 2021 •
Estate Planning ![]()
Only about 35% of Americans have heard of 529 plans, according to the College Savings Plans Network. Of those, a mere one in four connect the plans with higher education savings.
Read MoreSeptember 9, 2021 •
Estate Planning ![]()
I’m a trustee selling a home in irrevocable trust for a parent who died. There are two beneficiaries who will get the sale proceeds with a stepped-up basis. I’m filing Form 1041 but do I still have to file a Form 1040 to report anything for the beneficiaries?
Read MoreJuly 19, 2021 •
Estate Planning ![]()
Traditional IRAs have been available to retirement savers who have earned income since 1974. That’s 23 years longer than Roth IRAs (introduced in 1997) have been on the scene. The big difference between these two types of individual retirement savings vehicles is when you pay federal (and possibly state) income tax on your savings.
Read MoreJuly 12, 2021 •
Estate Planning ![]()
What happens if a non-spouse beneficiary inherits an IRA account but dies before the money is put in her name. There were no contingent beneficiaries. Which estate would get the IRA?
Read MoreJuly 9, 2021 •
Estate Planning ![]()
My sister passed away. Her only possession was her home, which still has a mortgage and she left it to my son and daughter, her niece and nephew. What inheritance tax will there be?
Read MoreApril 30, 2021 •
Estate Planning ![]()
How can you prepare your children to handle the assets they’ll eventually inherit?
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