Inheritance Tax & Estate Planning Updated for 2021

How is an Inheritance Taxed?

If you're receiving an inheritance you may be wondering about how it will be taxed. The tax treatment will ultimately depend on a number of factors, such as the type of inheritance you are receiving (real estate, a retirement account, cash, etc.), your state, the size of the estate, and…

Kristin McKennaApril 18, 2017

Inheritance

Getting Started After Inheriting a Home

DECISION GUIDE: WHAT TO DO AFTER INHERITING A HOUSE The specific issues at play after inheriting a house will vary for each person. However, many of the general considerations will remain consistent in most situations. As you face the difficult practical and emotional decisions at hand, this checklist can help guide your thought process as…

Kristin McKennaAugust 31, 2016

Financial Planning Inheritance Real Estate Trusts Updated for 2021

Financial Considerations After Inheriting a House

Inheriting a home, such as the family home or a vacation home can be emotional. As you begin to sort through the emotional and practical issues, you may initially be left with more questions than answers. As an added complexity, you may have inherited a house with siblings. Varying wishes…

Kristin McKennaJune 1, 2016

Inheritance Secure Act Tax planning Updated for 2021

Do You Pay Tax on an Inheritance?

Do You Pay Tax on an Inheritance? What's the tax treatment of an inheritance? Depending on what type of asset you inherit, it could be considered taxable income. Funds from inherited retirement accounts are usually included in your taxable income. Taxes on cash, stock, or property inheritances are different, if…

Kristin McKennaMay 11, 2016