Tax laws for retirement accounts can be very complex. When you start receiving distributions, how much you receive and for how long are important factors. When 401(k) accounts are inherited, the rules are somewhat different. Understanding the tax implications of inherited 401(k) accounts can help you minimize tax burdens. Payout Options At Death of Account […]
Category Archives: Inheritance
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Family trusts are often designed to benefit your immediate family or other relatives in the event of your death. One scenario that we often don’t think about is what happens when a beneficiary of a family trust gets divorced. Below are a few possibilities, based on recent case law in Massachusetts. Direct Assignment to Ex-Spouses […]
You’ve spent years accumulating your wealth through hard work and discipline. Now you’re ready to share this great accomplishment with loved ones. Only one potential problem stands in your way – frivolous spending.
Leaving someone an IRA as an inheritance can have a lot of tax advantages, and it’s often a very good estate planning strategy. However, the rules for inherited IRAs are complicated, and it’s easy to make mistakes.
