INHERITANCE

December 20, 2020

Inheritance

Over the next decade, women will break all records of the largest amount of money transference in history due to divorce settlements, life insurance payouts, and inheritance from parents.

Where inheritance can impact the financial standing of both men and women, as well as younger adults after parents or grandparents pass, there are tax implications that if not arranged in advance, can cost those inheriting the money, a great deal in taxes.

In one of our testimonials, we were able to not only save the client over $750k in taxes in retirement but designed their plan to leave each of their children $2 million tax free—it simply takes strategic planning with our team.

We should add, that in addition to inheritance, funds can come from a sudden windfall be it the stock market, lottery winnings, a real estate sale or other non-traditional method of inheritance. The bottom line, tax doesn’t discriminate—the IRS wants to be included in sharing of the funds.

Our job in working with the tax codes is to ensure that our clients take advantage of the opportunity provided them by the IRS.

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