A Complete Guide To Inheriting Money - Tax Planning for Early Retirement!

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Inheriting money can significantly impact your early retirement plans, but it requires careful tax planning to maximize benefits and minimize liabilities.
This comprehensive guide will help you develop essential strategies for managing inherited wealth and provide valuable insights on tax implications, IRAs, brokerage accounts, and beneficiary options.
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Time Stamp
00:00 Intro
00:15 Narrating a Real Life Case
03:30 Financial Planning to Avoid Altering Children’s Life Decisions.
05:17 Do Smart Estate Planning
06:50 Special Announcement
08:25 Reviewing Comment of The Week
10:42 Planning Distributions from Traditional IRA Inherited
14:35 How To Manage Inheritance When You Are in High Tax Bracket
17:35 Inheritance Other Than Your Spouse
20:17 Inheriting Brokerage Accounts
21:27 What Is Net Unrealized Appreciation (Nua)
23:58 Summary/Conclusion
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eBook: The Complete Guide To An Early Retirement (FREE)→
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eBook: The Complete Guide To Health Insurance (FREE)→
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Early Retirement Expense Calculator (FREE) → rootfinancialpartners.com/cas...
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Ari Taublieb, CFP®, MBA, is the Vice President of Root Financial Partners (Fiduciary) and host of the Early Retirement Podcast.
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⚠️ "DISCLAIMER:⚠️
All content is not to be received as financial advice, and each individual should consult with their dedicated financial planner, tax preparer, estate attorney, etc., before making any financial decisions.
This video contains content I created and got permission from its creators to use. This Channel DOES NOT Promote or encourage Any illegal activities; all contents provided by This Channel are meant for EDUCATIONAL AND ENTERTAINMENT purposes only.

[@RandomJane104]

I haven't finished watching this yet but I'm about to. Thank you! I can relate to the story of the person wanting to make sure their parent's legacy is not taxed to oblivion or squandered. I feel the same. I'm an only-child. My dad is in his 80's. He's invested well and is a saver (me too but I'm not a higher earner). I anticipate inheriting around $1M in the next decade or two and will need help at that time figuring out how to handle it optimally. It's why I listen to you. We don't have children but my husband has neices and nephews and I would prefer to not die with $0. I would like to pass on at least some legacy to give them a leg up.

[@earlyretirementari]

You’re welcome!

[@markb8515]

Thanks Air for another great video with a lot of helpful information!

[@earlyretirementari]

Glad you enjoyed it!

[@Jl-620]

Great video as always Ari! One thing you did not mention (unless I missed it) was estate taxes. You addressed how inherited accounts affect income taxes but estate taxes are separate as you know, and they even affect Roth and brokerage accounts. It would be great if you can make a video with strategies to address estate taxes, both Federal and State, with the understanding that State estate taxes may vary depending on where you live (or is the state where the deceased lived...). Thanks again for all your awesome content!

[@earlyretirementari]

Will do!

[@martinguldner3990]

I could write a book on inheritances being a recipient of my older half-brother's estate who died in 2020. Most of the money I got within 30 days along with other family members splitting the estate. But since my brother had some assets without beneficiaries and a will that couldn't be found. I had to wait an additional 2 years to have the sale of his townhome his car his post office pension ( took almost 2 years before them to open up the case) I tell anyone who works for the post office or federal government agency do their beneficiaries a favor and have a separate life insurance policy separate from your pension.

[@earlyretirementari]

ROH = return on HASSLE

[@martinguldner3990]

@@earlyretirementari yes but my return on hassle with the inheritance from my brother's estate increase my net worth by $325,000!

[@user-xg8zo7lw1x]

Too talky on this episode. Get to the flowchart sooner.

[@earlyretirementari]

Feel free to skip looking at the chapters!

[@susanadonnelly350]

Get to the point!

[@earlyretirementari]

I'm sorry the stories don't resonate with you!