The Leaflet
Inheritance, financial planning, investing, and philanthropic news
How do you Manage Guilt Over Inherited Wealth?
Struggling with guilt after inheriting wealth is a very common experience. Taking a step back and assessing how you want to steward, grow, and give your inheritance can help you manage feelings of guilt and create new, positive associations with inherited wealth.
How to Manage an Inheritance
The steps you need to take to manage your inheritance, make smart financial decisions, and build a plan to use your inherited wealth to create positive impact and support your vision for the future.
Everything Inheritors Need to Know about Taxes
Read transcript highlights or listen to the full episode to learn what tax returns inheritors may need to file, how state estate taxes can trip inheritors up, surprise tax issues in the estate settlement process, the new rules for RMDs and distributions from inherited IRAs, and all about the step-up in basis after death.
What do you Need to Know about Inheriting Money from your Parents?
Inheriting money from your parents can be an emotional and logistical minefield. Becoming richer doesn’t mean as much when someone you love has recently died.
And no one ever prepared us for this. I’m a Millennial inheritor. I’ve been through this and seen my friends and clients go through the same. There’s a wealth of information we were never taught, never even told we might need to learn someday.
Whether you’re looking for help navigating an inheritance after your parents passed away, or trying to figure out how to plan for that day, read here to learn everything (or, at least most things) you need to know about inheriting money from your parents.
Does my Inheritance Count as Taxable Income?
Most beneficiaries do not pay taxes upon receipt of an inheritance. But several surprise taxes can affect inheritors, both during and after an estate settlement. Inheritance tax, income tax, and capital gains tax can all cause an inheritance to show up on your tax return and create a tax headache if they are not anticipated.
What to ask about Inherited Stock Held in Trust?
Inheriting stock may enable you to experience financial freedom and live a life that you thought was beyond your dreams. But if you aren’t able to understand the size and holdings of your trust or feel like your trustee has become a financial babysitter, it can be hard to feel confident in your vision for the future.
What to ask a Financial Advisor about Inheriting Stock?
Many people who inherit stock positions need support from a financial advisor, but it can be difficult to know what questions to ask, especially if your advisor doesn’t specialize in working with inheritors.
What Inheritors Need to Know about Concentrated Stock Positions
Inheritors dealing with a concentrated stock position will have a different set of questions and concerns than those who built or grew a concentrated stock position during their lifetime. Get the scoop on the tax consequences of inherited positions, how to diversify inherited holdings, and the risks and benefits of holding concentrated stock positions.
What Inheritors Need to Know about Wills, Trusts, and Probate
Read transcript highlights or listen to the full episode to learn how to prepare to be the executor of an estate, all about the probate process, benefits of inheriting through a Revocable Living Trust, the most common types of trusts to inherit from, and what it means to “bust a trust.”
What Federal and State Taxes do Beneficiaries Pay on Inherited Wealth?
Five taxes most commonly apply to estates and inheritors: federal estate tax, state estate tax, state inheritance tax, income tax, and capital gains tax. How much tax you will owe depends on where the deceased person lived, where you live, the size of the estate you are inheriting from, and the types of assets you are inheriting.
What Inheritors Need to Know about Charitable Giving
Read transcript highlights or listen to the full episode to learn: everything you need to know about community foundations, the basics of charitable bequests made through wills, trusts, and by beneficiary designation, all about Donor Advised Funds, gifting with family after a loved one dies , and common estate disputes involving charitable gifts
Protecting Digital Privacy After Death
Podcast episode 1 featuring security expert Gennie Gebhart of the Electronic Frontier Foundation. Listen to learn how to to access, manage, and protect digital information after a loved one dies.