Here, we offer further strategies for heirs of retirement accounts to maximize the after-tax value of their funds.
Follow these strategies to design a distribution plan with tax efficiency in mind.
If you’re the beneficiary of retirement accounts or other inherited assets, it pays to learn about the IRD deduction.
Determining whether you need life insurance in retirement can get complicated—and it depends on your unique situation. Let these questions guide you.
It is the responsibility of the surviving spouse or the estate’s executor to notify lenders on joint accounts, to close out accounts in the deceased’s name, and to notify the three major credit agencies.
Studies have shown that some heirs ultimately end up in worse financial shape after receiving an inheritance. This is so common that psychologists call it sudden wealth syndrome, although it is not an actual psychological diagnosis.
Trusts can be an essential part of your plan—but they are often complex and time-consuming to set up.
You may be shocked to learn that new national and state laws may have prohibited your agent’s power to act.
The mechanics of estate planning can be easy enough, but the big picture requires a lot of thought and soul searching.
It’s wise to use an adviser whose primary focus is on strategies that maximize the retirement experience.
The new rule for adults who inherit an IRA from their parents in 2020 and beyond is that they must liquidate that account within 10 years.
When Inheriting an IRA there are complex rules you will need to follow to avoid costly errors.
With the passage of the SECURE Act inherited IRAs from those who passed after December 31, 2019 are no longer allowed to stretch the withdrawals over their life expectancy.
While annuities can be an important way to build wealth, many individuals don’t realize how complicated these insurance products can be. In this article, we’ll walk you through what you need to know about annuity contracts and the five-year-rule.
Many people think it is a good idea to put their child’s name on the deed to their home, especially if one of the parents is deceased. Usually the motivation is…
Estate tax exemptions are much higher than they once were. As a result, it may be worthwhile to review your estate plan and terminate trusts that are no longer needed.
Why naming your Estate as your IRA Beneficiary may not be a good choice.
Traditional IRAs are subject to a unique set of complex rules. Here are 6 significant differences between IRAs and other financial assets.
While retirement might not be a high priority for young children, starting a Roth IRA early and making small contributions can go a long way over time.
Establishing a trust can be a prudent way to pass assets from one generation to the next since it addresses issues that may arise from transferring wealth outright.