What to do After Inheriting a Retirement Account from a Parent
Just inherited an IRA from a parent? Here are the distribution rules. If you’ve just inherited a retirement account like an IRA or 401(k) from
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.
What to Do When a Parent Dies and You’re the Executor
Losing a parent is emotional. It can also be overwhelming for adult children when they’re the executor of the estate. Settling an estate is a
What to do After the Death of a Spouse
Losing a spouse can be an overwhelming and emotional experience. While it’s possible to organize financial documents ahead of time, there’s no way to truly
What’s The Best Thing To Do With Inherited Money?
Updated for 2024. There are lots of ways to spend an inheritance. But just because you have options, doesn’t mean they’re all good options. After
Inheriting a Trust Fund: Distributions to Beneficiaries
If you’re inheriting a trust fund, you likely have questions about how the distribution payouts to beneficiaries work and the tax implications. While general information
What is a Step-up in Basis? Calculating Cost Basis of Inherited Stock or Other Assets
Updated for 2024. A step-up in basis is a tax advantage for individuals who inherit stocks or other assets, like a home. A step-up in
3 Things You Should Know About Your Parents’ Estate Plan
Estate planning discussions are seldom had between loved ones. And understandably so; asking your spouse or parents to discuss their mortality isn’t exactly a conversation
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
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
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