Category: Inheritance
Since death is inevitable, it might be a good idea to talk about it. Americans hesitate to speak with their families about death and that can sometimes have consequences as Financial Advisor discusses in “Everybody Dies. It’s Time To Have The Talk.” Studies have shown that parents and their adult children often have very different […]
You can better protect your heirs if you take into consideration that your mortgage might outlive you. If you inherit a house you can end up with problems because it is often assumed you can continue the mortgage payments or refinance with the lender but, unfortunately, neither is the case in all situations. And, as […]
There are a number of options as well as legal requirements if you inherit a home. It can sometimes be a challenge if you inherit a home and already own your own. The Huffington Post recently discussed those challenges and opportunities in “5 Questions to Ask When Inheriting a House.” The suggested questions to consider […]
While it may be a difficult task it might be wise to have an inheritance talk with your children in order to avoid future battles. Family fights can sometimes occur when your estate plan comes as a surprise to the children because they were not given any indication of what to expect when you pass […]
The advantage of a traditional IRA or Roth IRA when it comes to inheritance comes down to the circumstances. Since distributions from a Roth IRA are tax-free while a traditional IRA is not, it is understandable that most people consider the Roth IRA has the advantage in inheritance since not having to pay taxes always […]
Baby boomers seem to have varied opinions on whether they should leave their children an inheritance. Are they being selfish? Baby Boomers are split on whether they should leave an inheritance to their children, according to a study by Hearts & Wallets which found that 40 percent plan to do so, 30 percent plan not […]
People who cash out their mutual funds usually face tax consequences but it’s much simpler for those who inherit the funds. Tracking the price paid for mutual fund shareholders is necessary to know the original value at the time of purchase in order to account for income from the funds and pay the capital gains […]
Leaving a large sum of money to a youthful heir can often create unexpected challenges and difficulties but a case study of what happens to the wealth of some professional athletes could provide insight. Some professional athletes are often as famous off the field as on but not always for positive reasons especially when they […]
Both the executors and the heirs who inherit property could get their ways in fair market value differences for estate tax and capital gains tax purposes – until now, because the loophole is closed. The value of an estate determines the amount of tax due with no estate taxes due if the estate was worth […]
There is an issue of U.S. property seized in Cuba more than a half century ago that may slow the attempted reconciliation with Cuba recently announced by President Obama. Despite the fact that American companies are already making plans to do business on the island, the project could be put on hold for a while. […]
