Want to Leave Your Kids an Inheritance? They May Only Have 10 Years to Take it.
The Secure Act, which was signed into law in December 2019, brings about several major changes to the retirement system. One such shift marks the end
Category: Inheritance
Darrow Wealth Management regularly works with individuals who experience a sudden liquidity event after inheriting a retirement account, a trust fund, property, and other assets. If you’re expecting to receive an inheritance, you may have a number of questions about the process and tax implications. Whether an inheritance is taxable to you, the beneficiary, will depend on what type of asset you inherited and how it was passed down. Articles cover the tax treatment of different inherited assets such as an IRA, brokerage account, home, or trust fund, and how a large windfall from an inheritance should be integrated into your new financial situation.
The Secure Act Means Major Changes to the Retirement System
The Secure Act was signed into law on December 20th, 2019, solidifying the most significant changes to the retirement system in over a decade. Though
Options After Inheriting an IRA from Your Spouse
If your spouse has named you as a beneficiary on their traditional IRA, SEP IRA, or SIMPLE IRA, you will need to understand your options
What to do After Inheriting a Retirement Account from a Parent or Relative
What to do after inheriting a retirement account from a parent or relative If you have just inherited a retirement account like an IRA or
What to Do After Receiving an Inheritance
If a loved one has passed and you’re expecting to receive an inheritance, you may have a number of questions about the process; such as
Does an Inheritance Go Through Probate?
What is probate and why should you try to avoid it? Whether an inheritance will go through probate or bypass the process will depend on the
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
Getting Started After Inheriting a Home
Checklist: Deciding what to do with an inherited home The specific issues at play after inheriting a house will vary for each person. However, many of the general
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
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