What’s the Best Way to Mess Up Estate Plan?
January 6, 2022
Here are the top five mistakes people make that upend their planning.
Menu
Here are the top five mistakes people make that upend their planning.
Some inherited assets are tax-friendly, but under new rules, others come with a hefty tax bill. We help you get the most out of a legacy.
Unless you spend your winters in Aspen and your summers in the Hamptons, you probably don’t have to worry about paying federal estate taxes on an inheritance. In 2021, the federal estate tax doesn’t kick in unless an estate exceeds $11.7 million.
My wife died and left a bank account with no beneficiary. The bank tells me I have to go through probate. I inherited everything else. What do I have to do?
That last will and testament you have tucked away? It may not be the last word on what happens to your stuff after you are gone. Instead, that legal document’s directives for doling out your wealth may be overruled by other paperwork and relevant laws.
What happens if a non-spouse beneficiary inherits an IRA account but dies before the money is put in her name. There were no contingent beneficiaries. Which estate would get the IRA?
While a will is one of the most important estate planning documents you can have, there are things that a will won’t cover.
Once you’ve bought an annuity or a life insurance policy and named your beneficiaries, you may never think about those beneficiary designations again. However, that could be a big mistake.
3112 Jackson Street
Alexandria, LA 71301
1070-B West Causeway Approach
Mandeville, LA 70471
