In order to give your brother half of the assets in the IRA, you will have to liquidate a portion of the account and pay the taxes on the liquidated amount if it’s a traditional IRA.
My mother passed, and she was an administrator of my grandfather’s estate and the inheritances. The estate accumulated quite a bit of back taxes over the years. Will the IRS put a lien on that estate as well as hers to retrieve funds?
Your estate planning is done, but is it? A periodic review is an important ongoing step to your planning.
Without a will, decisions made about your property and assets will be handed over to local courts, which can make an already challenging time even harder for your loved ones.
A 14-year-long legal fight among five siblings over a Queens woman’s estate has gotten so nasty that it landed two elderly sisters in jail, and now one of them may lose her home.
Deborah Placet had no idea how to access her husband’s cryptocurrency and other digital accounts after his unexpected death at age 52.
Whether you drew up a will recently or years ago, keep in mind it’s generally not something you can set and forget.
Most people should have a will, but it’s rarely the most significant estate planning document an individual holds.
If a loved one asks you to be the executor of their estate, think carefully before you take on this responsibility.
Do you have to pay taxes on inheritance?