Estate planning with an eye to a future inheritance, known as “upstream planning,” can be especially important where families pass significant wealth from generation to generation. Knowing these details in advance can have a big impact on deciding on how to manage the heir’s own assets, as explained in the article “Expecting an Inheritance? Consider Coordinating … Continue reading What Is Upstream Planning?
Category: Taxes
The Benefits of a Good Estate Plan
If you don’t have a comprehensive estate plan, state law will control. That’s unlikely to that the state will do what you would choose to do. MSN’s article entitled “What is estate planning?” discusses the benefits of estate planning. Minimizes taxes. Clever structuring of flexible retirement accounts, such as a Roth IRA, can help funnel more tax-free money to … Continue reading The Benefits of a Good Estate Plan
What Is Included in an Estate Inventory?
The executor’s job includes gathering all of the assets, determining the value and ownership of real estate, securities, bank accounts and any other assets and filing a formal inventory with the probate court. Every state has its own rules, forms and deadline for the process, says an article from yahoo! Finance titled “What Do I Need to Do … Continue reading What Is Included in an Estate Inventory?