Philanthropy cannot only give you great personal satisfaction, it can also give you a current income tax deduction, let you avoid capital gains tax, and reduce the amount of taxes your estate may owe when you die.
If you are one of the millions of Americans with debt, you might wonder what happens to it when you pass away. As with most things financial, it depends.
Wealth transition and succession planning were always complicated processes—COVID-19 did not do it any favors.
There are 26 states where laws generally hold children financially responsible for certain debts of their parents.
Our Financial Planning Experts tackle a listener’s concerns about passing a tax burden to his children with an inherited IRA.
The SECURE Act substantially restricts the “stretch” IRA provision. We explain the new rules and notable exceptions.
The “Money Talks” experts discuss the various ways you can maximize your gift to charity using life insurance.