Category: Inheritance

A Guide to Your Inheritance

Before you begin to invest or spend an inheritance, it’s essential to know what type you will be receiving. Knowing what you will inherit and how it can be taxed gives you a much better picture of what to expect. This guide provides simple explanations for the most common forms of inheritance and their potential for taxation:   Straight Up Cash: Cash is one of the most common forms of inheritance. The good news is that…
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Understanding Inheritance: Trust The Process

Inheriting money from a family member can be a blessing or a burden. How tempting is it to run out and put a down payment on a Mercedes-Benz or get that Cartier Love ring when a large sum of money suddenly appears in your account? As good as these material items may make you feel for the moment, what happens when these new purchases begin to eat into your income or your loans keep increasing…
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‘Demand Inheritance’ Portfolio Stages

  The Legacy Stage (0-6 months): 100% Bonds- The Legacy Stage is a low-risk model of investing for those who have just received an inheritance. Safety, security, and short-term bonds are the focus of the Legacy Stage. Short-term bonds are fixed-income instruments that take less time to mature; lower risk/ lower return. These bonds can take between 1-4 years to reach maturity on average. Short-term bonds differ from long-term bonds as they provide greater stability…
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Do I Need a Trust? Trust Me, Your Parents Don’t…

Top Reasons People Tell You to Get a Trust 1. To avoid probate. Oh no… probate… the last word anyone wants to hear when settling the estate of a deceased loved one. When mourning a friend or family member, visits to the courthouse to handle stacks of paperwork is the last thing a grieving beneficiary wants. The first thing you will probably hear when you ask how to avoid probate is… ‘open a Trust!’ It’s…
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What Happens to My IRA When I Die? – What Parents Should Know

When a parent dies there are many things to manage, and taking care of the finances can often be the most dreaded. From funeral preparation to paying off any debts, every added task can feel overwhelming.  A parent with all accounts titled correctly or set up in a trust makes the transfer of accounts simple, quick, and inexpensive, easing the burden on their grieving children. While proper titling is helpful, and the transfer of these…
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