Why is Ashton Kutcher So Stingy with his Kids’ Inheritance?
In a recent episode of the Dax Shepard podcast "Armchair Expert," Kutcher said he wasn't creating trust funds for his two children with his wife, Mila Kunis.
Will We Have to Pay Gift Taxes if We Give Property to a Child?
How should we best do this, so that we avoid future gift taxes?
As a Trust Beneficiary, Am I Required to Pay Taxes?
Beneficiaries of a trust typically pay taxes on the distributions they receive from the trust's income, rather than the trust itself paying the tax. However, such beneficiaries are not subject to taxes on distributions from the trust's principal.
Can I Protect an Inheritance During Marriage?
An issue that frequently arises is the treatment of an inheritance received by a spouse during the marriage. The basic rule is that any property received via gift or inheritance during the marriage is exempt from equitable distribution.
Should I Change Beneficiary Designations if I Get a Divorce?
There are a number of reasons you may want to update your beneficiary designations on your investment accounts. Divorce might be one of them.
Why Should I Pair my Business Succession and Estate Planning?
Thinking of exit and estate planning in tandem, allows owners to ask relevant questions to bring their entire picture into focus.
Can I Protect My Daughter’s Inheritance from Her Loser Husband?
My daughter is getting married soon. What can I do to protect her inheritance after my death?
How Does the IRS Know if I Make Gifts To My Grandchildren?
Federal and state tax authorities have no direct way of knowing how much is being gifted. The system relies on taxpayers self-reporting gifts.
Should I Create a Joint Account With My Elderly Dad?
I added my 79-year-old father as a co-owner of my checking account, to speed up a one-time cash transfer he was making to me. Would keeping him on the account be a problem? Doing paperwork at the bank is about as fun as going to motor vehicles. I don’t know what would happen, if he fell victim to a scam.
How Do I Find a Great Estate Planning Attorney?
Estate planning is a critical part of financial planning, but something many Americans procrastinate about. Drafting a will and a health care proxy or power of attorney, maybe creating a trust, and maximizing your loved ones’ inheritances by minimizing taxes are all important matters you don’t want to leave to chance.