Tax rules on individual retirement accounts (IRAs) are different for inherited IRAs. Some differences are positive.
Deborah Placet had no idea how to access her husband’s cryptocurrency and other digital accounts after his unexpected death at age 52.
From digital assets to financial accounts to sentimental items, here’s what to think about to make sure your loved ones have access to everything they need when you pass away.
The law requires probate for a good reason. If a person dies, probate ensures that the property goes to the people who are supposed to inherit it.
The rise in the stock market over the past several years, teamed with the passage of the SECURE Act two years ago and the scheduled 50% reduction in the size of the federal estate tax exemption four years from now, has resulted in a renewed interest in estate planning for IRA and 401k accounts owned by married couples.
This is an important question to ask, because the answer could tell you whether you need to worry about estate taxes, beneficiary issues or probate concerns.
Would your loved ones have necessary access to your bank accounts after you die to help carry out your last wishes and handle arrangements?
If you want to protect your family’s legacy from unnecessary taxes, divorce and creditors over the course of many generations, a dynasty trust could be your best friend.
Digital assets have been around for quite some time. However, they seem to be dominating headlines again this year. In part, you can thank high-profile figures, such as Elon Musk, for promoting cryptocurrency, or music artist Grimes for selling $6 million in NFTs.
Your estate plan is much more likely to be successful, when you recognize and avoid the most common mistakes and take some key actions that often are overlooked.