by Christine | Mar 29, 2013 | Estate Planning, Individual Retirement Accounts (IRA), Inheritance, Inherited IRAs |
Let's say that someone who is not your spouse recently died and named you as their IRA beneficiary. You now have what the IRS calls an “inherited IRA.” When you inherit money, once you receive it you can usually decide where it goes from there, such as a simple...
by Christine | Mar 20, 2013 | Decanting, Inheritance, Irrevocable Trust, Trusts |
"It's like decanting a bottle of wine; you pour the wine into a new bottle to air it out," says Mark Haranzo, a partner at law firm Withers Bergman. In trust terms, you pour the assets of an old trust into a brand-new trust that essentially allows a...
by Christine | Mar 13, 2013 | Cost Basis, Estate Law, Estate Planning, Inheritance, Stock |
I just inherited some stock from my uncle, and I know that he bought the stock for more than the present cost. Should I find the original cost, or do I use the cost as of the date I inherited the stock? If you ask any accountant or business owner, calculating the cost...
by Christine | Mar 12, 2013 | Estate Planning, Inheritance |
The blessings of wealth can be yours, but they are not delivered on a silver platter. Counter intuitive as it may seem, you must work for them. But your hard work will yield ample rewards. As there seems to be two sides to every story, there tends to be two views on...
by Christine | Feb 12, 2013 | Disinheritance, Estate Planning, Inheritance, Wills |
As cruel as it sounds to disinherit a child, people have their reasons. Sometimes there is no relationship. Other parents might feel the adult is well-off and does not need an inheritance. Estate planning largely involves the process of distributing assets to your...
by Christine | Dec 7, 2012 | Estate Planning, Inheritance, Religion |
Some planners caution that being too restrictive in an estate plan in an effort to pass on religious values—say, disinheriting children who marry outside the faith—can create divisions within a family and spark extended, costly legal battles, all while failing to have...
