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Inheritance

How Should I Time an Inheritance?

POSTED ON: April 6, 2023 BY: Kyle Krull
You can give an inheritance while you are living. Timing can make a big difference. A split second late on a baseball swing can leave you with a strike rather than a home run, yes? Being born a few minutes before midnight on New Year’s Eve gives parents a tax break. According to a recent […]
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Inherited IRA

Can I Avoid Taxes on an Inherited IRA?

POSTED ON: March 25, 2022 BY: Kyle Krull
An inherited IRA can carry significant taxes and fees. Gone are the days of the stretch IRA. The ability of families to pass their retirement accounts through generations was a beneficial tool for many. With the passing of the SECURE Act, an inherited IRA has a limited shelf life. According to a recent Aol.com article […]
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Gifting money

How Does Gifting Money Benefit Me?

POSTED ON: December 3, 2021 BY: Kyle Krull
Gifting money before death can be a wise estate planning move. Money and taxes cannot be separated. When purchasing and selling, taxes are usually in the mix. With estate taxes, the government tries to take a cut of your money postmortem. Although the current federal estate and gift tax exemption is $11.7 million per person […]
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How Do I Address IRA Estate Planning Laws Changing?

POSTED ON: March 10, 2020 BY: Kyle Krull
Estate planning laws have changes, especially when it comes to the beloved "stretch" IRA. With a stretch IRA, those inheriting IRAs could take "required minimum distributions" over their lifetimes. Before January 1, 2020, stretch IRAs were a significant estate planning tool. That is the date the "Setting Every Community Up for Retirement (or SECURE) Act" […]
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How Should I Be Saving for Retirement?

POSTED ON: November 21, 2019 BY: Kyle Krull
Saving for retirement requires intentional planning. Different stages of life have different demands and concerns. Whether you are young or seasoned, retirement should be prioritized. With so many demands on finances, this is not always easy to do. According to a recent Skimm article titled “9 Retirement Questions from Skimm’rs, Answered,” the best planning starts […]
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