Inheriting assets can be a life-changing financial boost, but it often comes with a maze of tax implications and decisions. In this episode, we will answer a question about an inheritance and lay out the tax considerations for a variety of assets to help you better understand what you might owe.
Discover how to navigate the tax implications of IRAs, annuities, bank accounts, real estate, and stocks to make the most of your inheritance. Even with this information, you still want to plan ahead as much as possible. If you know an inheritance is coming, or if you've just received one, it's crucial to sit down with a financial advisor to put a comprehensive plan in place. This will help you make the most of your inheritance, ensuring that you are as tax-efficient as possible.
Here’s what we discuss in this episode:
0:00 – Intro
1:06 – Today’s question
2:17 – IRA
4:41 – Annuities
5:45 – Bank account
6:50 – Home and stock
Connect with us:
Web: https://rosewoodwealthmanagement.com/
Phone: 919-391-3446
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