Inheritance Taxes

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Curbing Taxes on Inheritances

Submitted by Lon Jefferies on Tuesday, September 16, 2014 - 12:00pm

Inheriting appreciated assets from your deceased spouse can bring a host of financial complications at the time of life when you already have too much on your mind. Here’s the math to know how to be prepared – and maybe save on taxes.

Estate Planning: The Heirs

Submitted by Elizabeth Anderson on Monday, September 15, 2014 - 3:00pm

The murkiest part of estate planning is to discuss when and how to distribute your assets to your heirs. This process requires a series of considerations and trade-offs to avoid emotion-laden family problems.

Up to now in our series of articles we focused on numbers, which are objective and straightforward. But when it comes to this final set of issues, things get gray because emotional factors drive decisions now. There is no correct answer on how to distribute your estate.

How to Leverage Trusts (Pt. 3)

Submitted by Sue Stevens on Wednesday, June 4, 2014 - 3:00pm

The American Taxpayer Relief Act (ATRA) lets you leave millions to heirs tax-free. Our first two articles examined ATRA and various trusts. Here are some of the remaining tools you can use to bequeath assets and avoid a big estate tax bite.

You still need powers of attorney. Essential tools for managing disability, these are inexpensive and simple to set up.

Pay Tax on a Life Policy Payout?

Submitted by Jeff Rose on Thursday, February 20, 2014 - 12:00pm

One of the advantages of life insurance payouts is that they are that tax-free, right? Well, that’s often true, yet not always. It pays to know when the taxman can take a bite of your benefit.

Your tax liability for life insurance policy payouts varies widely based on your situation. Let’s look into the basic rules and a few specific cases.

Where Are Taxes Going?

Submitted by Ray Ferrara on Friday, November 23, 2012 - 12:00pm

The jockeying has begun in Washington among President Barack Obama, the Republican-controlled House and the Democratic-led Senate on taxes. How this plays out will affect us all. What should we look for?