By Bill Monte, The Estate, Legacy and Long-Term Care Planning Center of Western NY Well, it finally happened. After being passed in the House of Representatives by a 417-3 vote back in May, The Setting Every Community Up for Retirement Enhancement (SECURE) Act was attached to a broad …
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WANT YOUR CHILDREN TO PAY ZERO TAXES WHEN THEY INHERIT YOUR IRA? HERE’S HOW.
By Bill Monte, The Estate, Legacy and Long-Term Care Planning Center of Western NY Legacy planning, from a financial perspective, focuses on how you can most effectively and efficiently maximize the passing of your assets at death to your chosen beneficiaries by negating any form of taxes that …
Q: Can My Beneficiaries Avoid Paying Income Taxes on My Annuity When I Pass Away? A: Definitely YES!
I continue to find that most owners of fixed or variable annuities lack knowledge about the taxation of their annuities after they pass away. I see some very surprised faces looking back at me when I tell them that it is their annuity beneficiaries who will be socked with paying the income …