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Estate planning · None

Your Big IRA Could Become a Big Tax Problem for You, Your Spouse and Your Heirs

If you start optimizing your taxes now, you can head off the inevitable tax consequences waiting for you when RMDs kick in — and when your family inherits.

Read the original at Kiplinger ↗

What changed

If you start optimizing your taxes now, you can head off the inevitable tax consequences waiting for you when RMDs kick in — and when your family inherits.

Planning context

Why it matters

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What Is Estate Planning?Last Will and TestamentBeneficiary DesignationsFinancial Power of AttorneyAdvance Health Care Directive and Living Will

Trusts

Revocable Living TrustIrrevocable TrustThird-Party Special Needs Trust

Taxes

Federal Estate TaxFederal Gift Tax and Form 709Generation-Skipping Transfer TaxIncome-Tax Basis at DeathState Estate and Inheritance Taxes

Administration

What Is Probate?Probate TimelineExecutor ResponsibilitiesWhat to Do After a DeathChoose Executors, Trustees, and Agents

Tools

Estate Planning WorkbenchFederal Estate Tax CalculatorGift Tax Reporting IllustratorProbate Cost EstimatorEstate Liquidity CalculatorInherited Asset Basis IllustratorEstate plan checklistMap your estate