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Inheritance, financial planning, investing, and philanthropic news

What Federal and State Taxes do Beneficiaries Pay on Inherited Wealth?
Financial Planning, Inheritance Katherine Fox Financial Planning, Inheritance Katherine Fox

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.

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5 Ways a Financial Advisor can help you Plan for Inherited Wealth

5 Ways a Financial Advisor can help you Plan for Inherited Wealth

Hiring a financial advisor to help with your inheritance can have benefits beyond deciding what to do with inherited wealth. A financial advisor can help you get your current money situation organized and identify areas of concern that should be addressed before an inheritance arrives.

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