Inherited IRAs Archives - About Estate Planning

Is My Children’s Inheritance Taxed?

Kevin McFadden — Wed, 07 Aug 2019 15:31:14 +0000

The general answer is no. The IRS doesn’t allow much to go untaxed, but most inherited assets are the exception (in Arizona at least). It does not matter whether the beneficiary received real property, stock or cash. Nor whether he or she received the inheritance via a Will or a… Read More

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Taxes on Inheritance

Kevin McFadden — Wed, 12 Dec 2018 16:24:35 +0000

I have addressed this in prior blog posts but it bears revisiting this topic since this comes up frequently in my meetings with clients. The question is typically asked this way: “Will my heirs have to pay taxes on the inheritance I leave them?” or something similar. Let me start… Read More

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Is My Estate Taxable When I Die?

Kevin McFadden — Thu, 03 May 2018 17:11:06 +0000

This is a pretty common question. I think there is a lot of misconceptions that an inheritance is taxable. For the most part it is not. Arizona doesn’t have an inheritance or death tax. There is a federal estate and gift tax but unless your estate exceeds 11 million dollars… Read More

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Are Inherited IRAs Subject to Creditor Claims?

admin — Mon, 16 Jun 2014 22:51:14 +0000

The answer is YES. On June 12th the Supreme Court of the United States handed down a decision stating that Inherited IRA’s are subject to the claims of creditors. For anyone who inherits an IRA, creditors or a spouse in a divorce can attach that inheritance if not properly planned.… Read More

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