The idea of someone close passing away is never usually the top thing on your mind, but it is really important to have a plan set in place. The last thing anyone wants to do is think about money when they should be taking care of personal matters.
John McCann and Michael Clark are here to help get that plan set in place so it is ready at a moments notice. Inheriting money is one of the big things to deal with after the passing of a family member and often times it means inheriting money. There are a lot of different tax ramifications to note in this process. Some other important topics mentioned in this episode are crypto currencies, divorce, as well as some interesting facts on social security.
Quote of the day: “Dream more than others think practical. Expect more than others think possible. Care more than others think wise. “-Howard Schultz
Need to find something from today’s show? We have you covered down to the minute!
- Cost basis and taxes when inheriting an annuity – 9.5 min
- Inheritance or divorce and tax ramification – 16.5 min
- By the numbers section – 20.5 min
- Inheriting bonds – 35 min
The information contained in this blog does not purport to be a complete description of the securities, markets, or developments referred to in this material. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Michael Clark and not necessarily those of Raymond James. Expressions of opinion are as of this date and are subject to change without notice. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Every investor’s situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment. Prior to making an investment decision, please consult with your financial advisor about your individual situation.