The U.S. House of Representatives has recently passed the "SECURE" Act and it's expected to soon be approved by the Senate and signed into law by the President. This new law will enhance the ability of workers to set aside, on a tax-advantaged basis, more money to fund their retirement. Good news! However, also buried in the Bill is a little-known provision that will accelerate and increase the taxation of inherited IRAs - - in order to pay for these new worker benefits! Not so good news!
There may be items in your home that have great sentimental value to you. However, they may become an annoyance to your children.
Ingvar Kamprad's family may not gain control of company.
GOP plan supports easy transfer of wealth generation after generation.
Minimum disbursements can be a problem but not necessarily, if you have an inherited Roth IRA.
If older members of a family pass on wealth, younger family members often have a more secure retirement.
Finding the balance between your children knowing how much they will inherit and letting them accomplish things on their own, can be a challenge.
Parents and their children not always of the same mind on the total amount of inheritance.
People who enter the country illegally still have the right to inherit property.
Many people want to witness the results of their gift to heirs.