How Do IRAs and 401(k)s Fit into Estate Planning?

How Do IRAs and 401(k)s Fit into Estate Planning

Investing for retirement is one of the most important steps you can take toward building a secure financial future for you and your family. The sooner you can start, the better. Contributing to a retirement account can help you work toward your goals and may provide tax advantages to boost your progress.

What Assets are Not Considered Part of an Estate?

What Assets are Not Considered Part of an Estate

In presentations regarding essential actions individuals should take regarding inheritance, emphasis is usually placed on drafting a will. This leaves unanswered what happens to assets that do not pass by will —so called non-probate assets.

Is Succession Planning Necessary for Family Business Entities?

Is Succession Planning Necessary for Family Business Entities

While 88% of business owners believe their family will control their business in five years, statistics from Family Business Institute show that only 33% of businesses survive to transfer to the next generation, and only 10-15% continue to the third generation.

Can I Split My Inheritance with My Sibling?

Can I Split My Inheritance with My Sibling

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.