Surviving Tax Season
Taxes That Can Impact Your Estate Plan Estate planning involves deciding how to plan for the management of your money, property, and well-being before your death and how to distribute […]
What are Biggest Blunders in Wealth Transfer?
We are approaching the biggest wealth transfer ever, as Baby Boomers prepare to hand off their life savings to their heirs. However, will their heirs actually get the full amount of the wealth intended for them…or will a large amount be lost to unnecessary taxes?
Why Do People Give to Charities at End of Year?
With a draft bill from the House Ways and Means Committee on the table, all signs suggest that higher income taxes could be right around the corner. How they will affect charitable giving remains to be seen.
Do People Get Divorced after Age 65?
A divorce almost always comes with emotional, personal and financial complications. However, a divorce late in life also adds a level of complexity to your estate and tax plan.
What are the Worst Things to Leave in My Estate?
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.
Do You Pay Income Tax when You Sell Inherited Property?
My great-grandfather was a farmer and had about 23 acres when he died. My grandfather passed away before my great-grandfather. The land was put in a trust for my mother and uncles. My mother passed away two years ago.
What Taxes are Due When Children Inherit Home?
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?
What Is the Best Way to Make Sure Children Can Handle an Inheritance?
How can you prepare your children to handle the assets they’ll eventually inherit?
When Do I File a Tax Return for an Estate?
My 91-year-old mother-in-law died on Dec. 13, 2020. There was no will, so we are currently working our way through the probate process. Her income was less than $20,000 a year from Social Security and we can’t find any tax returns she filed. Was she required to file?
What are My Taxes on a House I Inherited?
When a house is sold, the seller is responsible for paying tax on the profit in the year of the sale.
