Inheriting from someone is a wonderful gift, but when it comes to securities assets, namely IRAs, different rules apply to non-spouse beneficiaries. IRS rules designate what the beneficiary can do with the IRA and how distributions must be taken. The laws on inherited...
Losing a spouse, whether through death or divorce, can be devastating emotionally and financially. The loss can take months or even years to recover since there is no way to prepare for death or divorce even when spouses have discussed contingencies with each other or...
For many parents, planning to leave their estate to their children is a common practice. There are many things to consider when planning to leave your children an inheritance, but the complexity increases when your child is beneficiary to someone else’s estate. What...
Over the next twenty years, there will be a wealth transfer that exceeds $30 trillion as the Baby Boomer generation passes the remainder of their wealth to the Millennials and subsequent generations. The Baby Boomers (born 1946-1964) are considered the wealthiest...
Receiving a large sum of money through an inheritance or other windfall can be stressful, exciting, and confusing all at once. Managing a large sum of cash can seem overwhelming, particularly if it’s an experience you’ve never had before. Here are seven common...
