Estates and Inheritances; Forging A Path Together

We understand that dealing with estates and inheritances can be an emotional and overwhelming process. Our goal is to provide compassionate support and guidance, helping you navigate these complexities with confidence, so you can make informed decisions during this challenging time.

Required Minimum Distributions (RMDs)

When you inherit a retirement plan from a parent, understanding when and how to take your Required Minimum Distributions (RMDs) is crucial. RMDs are mandatory withdrawals you must take from an inherited retirement account to comply with IRS regulations. The rules governing RMDs can be complex and vary depending on several factors, including your relationship to the deceased and the type of retirement account.

RMD Determination

We will help you determine the timing and amount of your RMDs to ensure compliance with IRS regulations.

Withdrawal Strategy

We’ll design a customized withdrawal strategy that aligns with your overall tax plan, seeking to minimize your tax burden and optimizing your financial outcomes.

Estate Process Guidance

If you need assistance with the broader estate process, we’ll guide you through each step, ensuring a smooth transition and proper communication.

The 10-Year Rule

If you fall under the “10-year rule,” which typically applies to beneficiaries who are not the spouse of the deceased, you may need to withdraw the entire balance of the inherited retirement account within 10 years of the account holder’s death. This rule was established under the SECURE Act of 2019 and can significantly impact your tax planning.

How We Can Help

Navigating estates and inheritances can be daunting, but you don’t have to do it alone. Here’s how we can assist you:

Comprehensive Estate Support: We offer comprehensive support throughout the estate process.

Consultation: Our professionals will provide one-on-one consultations to address your specific needs and questions.

Tax Optimization: We’ll work with you to develop strategies aimed to minimize the tax impact of your inherited assets.

Test Your Estate Strategy Knowledge

Estate management can help ensure that your assets are transferred according to your wishes while managing tax issues.

Critical Estate Documents

Sound estate management includes creating financial and healthcare documents. Here's an inside look.