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
posted on December 18, 2013
Introduction to Self Directed IRAs
Self directed IRAs (SDIRA) have been around since the early 1970s. In spite of their history, they haven’t been all the rage until more recently thanks to media attention. The biggest press was on former Republican candidate Mitt Romney’s SDIRA. It shouldn’t be believed that only the most wealthy can… Read More
posted on November 6, 2013
How Much Does the Government Take When you Die?
This question gets asked a lot. Sometimes it is asked if the Feds or Arizona tax you when you die? Sometimes it is asked if the State gets part of your estate when you die? Mostly it is thought of in terms of probate whether you have a Last Will… Read More
posted on October 24, 2013
Trends in Living Trusts Part II
Another trend in Living Trusts, or better said, Estate Planning, are IRA Qualified Trusts. Very often a individual does not want to leave a large IRA to their children or other heirs. The concern is they will cash it in and pay the large tax bill that will surely come when the IRA is… Read More
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