Should You Plan for an Inheritance?

[@HeyMikeyLikesIt2]

Not from anyone in my family, but it’s good to know how it’s done. When I leave, my son will have a set of instructions. I learned how to leave a “Continuity” book for the next person that takes my seat, while I was in the Army.

[@gregbannish8423]

Good points. I would add that even estate sizes smaller than the federal estate tax exclusion amount could benefit from a legal, tax, and wealth mgmt team. For my aunt, she didnt understand the irrevocable trust fully. And neither did her tax preparer, who thought her assets would be excluded from her estate and have to pay estate taxes. Not until the lawyers accountant explained how the trust was intentionally defective, thereby allowing inclusion in her estate and will save her benefactors over $1M in taxes!

[@gregmoses8708]

Great show!

[@irpain8617]

I Have Heritage Trusts setup for my kids. Protects them from themselves, divorce, bankruptcy, Medicaid and even student loans since it doesn't specify in the document for education.

[@justmyopinion4now]

Is inherited Roth from a deceased spouse, still 10 years?

[@gregbannish8423]

No, it's lifetime for a spouse, 10 years for almost everyone else...