» Inheritance

Retirement Accounts Limit Time for Heirs to Make Decisions

Beneficiaries of retirement accounts face big decisions and limited time. Inheriting spouse has many options and limited time to decide as recently discussed by Market Watch in “Inheriting a retirement account? Lump sum payouts can be costly.” Th… Read More
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Treating Your Children Differently in Your Estate

For many parents it seems obvious that because their children have different life circumstances it is fair to treat them differently in their estate plans. The children often have different ideas than the parents about what is fair and that can lead… Read More
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What to Leave to Your Family

Throughout your life, you have most likely accumulated many different types of assets. When planning your estate, it is useful to know which of those assets you should leave to your family members. Estate planning is not just about deciding how much… Read More
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Your Retirement and Your Children

You might think that you are only hurting yourself by not saving for retirement, but you are also hurting your children in two important ways. It is common knowledge that a large percentage of Americans do not have any retirement savings. Some people… Read More
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What to Know When You Inherit an IRA

People who inherit IRAs are often confused about the different rules and options concerning those inheritances. There are a few things that they should know. The rules concerning IRAs are different for people who inherit the accounts than they are fo… Read More
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When You Must Withdraw From an Inherited IRA

Many people are under a false impression that they do not need to make withdrawals from an IRA they have inherited until they would have to take withdrawals from an IRA they initiated. To avoid penalties it is important to understand the rules. If yo… Read More
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Inheriting Polluted Property Can Be Expensive

Inheriting commercial real estate can seem like a financial windfall for many people. But it can turn into a financial nightmare if environmental pollution is later discovered on the property. In "Contaminated Property Makes for Costly Inheritan… Read More
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Think Twice Before Challenging a Will

When people are upset over an inheritance their first instinct is often to contest the will. However, will contests have high emotional and financial costs and should not be undertaken lightly. The Rochester Business Journal recently published an int… Read More
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Tax Consequences of Inheriting an Annuity

If you inherit a non-qualified annuity, then before you decide what to do it is important to understand the different options and tax implications. Annuities have become an extremely popular tool in people's retirement plans. Like any other asse… Read More
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Helping Teenagers Who Inherit Wealth

If you give a teenager a large sum of money and tell him or her that it can be spent however the teen wants, you can guarantee that a large portion of it will be wasted if not all of it. It is no different for teenagers who receive extremely large in… Read More
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