Can I Avoid Taxes when I Inherit?
Unless you spend your winters in Aspen and your summers in the Hamptons, you probably don’t have to worry about paying federal estate taxes on an inheritance. In 2021, the federal estate tax doesn’t kick in, unless an estate exceeds $11.7 million. The Biden administration has proposed lowering the exemption, but even that proposal wouldn’t affect estates valued at less than about $6 million.
Checklist for Estate Plan’s Success
Every so often, it’s smart to methodically go through your estate planning documents and see if any tweaks are needed. Here’s a checklist to guide you through that mission.
Does a Will Supersede a Beneficiary Form?
If you haven’t reviewed your beneficiary designations recently, you may be setting your heirs and estate up for some unpleasant surprises.
How Does the SECURE Act Change Your Estate Plan?
These changes are so significant that every such plan holders should review their wishes and how their estate plans may be affected.
Loss of Stretch IRA is Not Such a Big Deal
The stretch IRA is dead and everyone (including me) is writing about how this is the apocalypse for IRA planning. Well, it isn’t. Let’s all take a deep breath.
How Will the New SECURE Act Impact My IRAs and 401(k)?
A new law could affect the IRAs and 401(k)s of millions of Americans in 2020.