Assume my estate is worth 3.2 million and my home is worth 2.2 million say. So of I pass away now, I will owe estate taxes in WA on 3.2 million. If I have made a TOD on my home and it passes to my daughter on my passing. For estate tax purposes, is my estate worth 1 million or still 3.2 million after my passing? In other words, does the TOD reduce the value of my estate for estate tax purposes? Many thanks.
I really like the quote at the end of the video. I'm in the stage of needing/wanting self improvement. Its not the spending for me. Its getting to a better healthy financial place since being laid off. I'm at a stage of life that I am "semi-retired" at this point due to being unemployed.
If you get out of an IUL and into another IUL, will you be charged a large portion of the cash value to start another one…….like the bonus an agent gets. I got trust issues
Hi. I'm a US citizen who lost his property in Kyiv Ukraine. 2 years ago Kyiv repossessed the land on which the building was built saying it was obtained illegally through a bribe in 2006. It cant be occupied now I received zero compensation. Can I deduct the full amount? Thanks
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What about recapturing of depreciation if you just rented a room (not a rental property)? Mother rented a room and the accountant depreciated the sqft of the rooms that were rented (so it wasn't a "rental property") It was her primary home (still is) The house is in a revocable trust, going to my wife (sole beneficiary) So when we go to sell the house once it's passed down in the trust to my wife. Will she had to pay the recapture of depreciation? Don't even have a clue what those numbers are. I just know they depreciated the sqft of the room when I came across some old returns. Thanks
This is not convincing whatsoever. Many 401k plans offer more than enough plan options at a low cost. Certainly if you have enough of a nest egg in there you'll get great advice.
Yes, I think this guy is confused, his description of a CRAT appears to be imprecise to put it politely. CRUTs and CRATs are not ‘reversed’ as he says; they use the same general ‘format’ The main difference between a CRAT and a CRUT is that the CRUT payments are not fixed as they are for a CRAT; they vary depending on the value of the trust assets. CRUTs can also be set up for a longer period of time, and provide more freedom (e.g. to add funds to the trust) and control (e.g. distributions)
From what I've read, non 401k IRA fees are usually higher than 401k plan fees so if you are still working at same company, it's likely cheaper to leave it in the 401k. The higher fees can negate the more choices in investments.
