Do I Have to Pay Taxes on My Inheritance?
October 24, 2019
An inheritance is not subject to income taxes.
Hard Work & Values
Should Never Go To Waste
An inheritance is not subject to income taxes.
Setting up a living trust is largely the same, regardless of where you live in the U.S.
Every adult should have a will in order to determine property distribution after death. However, a will is limited in what it can do. Too often, a will cannot accomplish what you need or even expect it to do.
As our children with disabilities grow older, and we ourselves grow older, the future can seem daunting. The future can be overwhelming.
Seventy-seven percent of respondents in a recent survey said estate and legacy strategies were important for everyone, not just wealthy individuals, yet only 24% said they had taken the basic step of designating beneficiaries for all of their accounts.
Many people equate estate planning with older people who have more assets and more to protect. However, that doesn’t mean younger people should ignore the benefits of estate planning. According to Caring.com, only 34% of adults ages 35 to 44 have a will and 18% of adults ages 18 to 34 have one.
One of the most frequent questions asked in estate planning, is whether a will is really necessary, particularly when someone has taken steps to avoid the probate process.
Trusts have long been a tool for the ultra-wealthy to preserve wealth and pass it down through the generations. However, even those of more modest means may benefit from this powerful estate planning tool.
I want to divide my estate equally among their three children. I’ve mapped out a plan to dispose of my property without any probate whatsoever. I put it together from what I’ve read on the internet. It’s just marvelous what you can learn by Googling things, don’t you think?
If you and your spouse are child-free, you may think you don’t need to think about comprehensive estate planning—but you’d be wrong. You’ll still want to ensure your assets go where you’d like them to after you’re gone, rather than being divvied up by the state.
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Hard Work & Values
Should Never Go To Waste
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