Unfortunate battle over the estate of a man of peace, Martin Luther King Jr.
Posts Tagged: estate
The only time your Will would control who gets your IRA is if your estate is the beneficiary. You should think twice before naming your estate as the beneficiary of your IRA.
It’s a great idea to try to make a difference for your child while you’re here to see the process unfold – it could be one of your most gratifying life moments.
Roth IRAs offer some great planning opportunities, largely centered around the fact that they do not entail “required minimum distributions.”
This is an excerpt from a clever piece written by an obvious Boston fan named Jim Moniz, who is president and CEO of Northeast Wealth Management, a Braintree, MA-based company that focuses on the needs of high-net-worth individuals and professionals. It underlines the importance of being aware of what Congress is doing (or not doing) regarding the estate tax–the tax on the privilege of owning stuff when you die–and how that might affect you and your loved ones.
A scenario that plays out far too often: a parent’s intended beneficiaries lose most of their inheritance to the IRS, court costs, and lawyers. This recent Tax Court case provides a cautionary tale about the perils of incomplete planning.
The good news is, these folks have plenty to fight over and the lawyers are going to make a ton of money. The bad news is, when people fight over estates, the lawyers often end up being the only winners.