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5 Mistakes To Avoid When Handling An Inheritance

By Robert Pagliarini on May 19, 2017

If you’ve been lucky enough to receive an inheritance, you might be tempted to start spending. After all, a few small indulgences couldn’t hurt, right? Take a deep breath and slow down. Two of the most common inheritance mistakes we see are that people move too fast and spend or give too much. Instead, develop…

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Getting Your Financial “Final File” in Good Order

By Robert Pagliarini on June 28, 2016

Who wants to leave this world with their financial affairs in good order? We all do, right? None of us wants to leave a collection of financial mysteries for our spouse or our children to solve. What we want and what we do can differ, however. Many heirs spend days, weeks, or months searching for…

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What You Need To Know About Inherited Real Estate

By Robert Pagliarini on April 9, 2016

At some point in our lives, we may inherit a home or another form of real property. In such instances, we need to understand some of the jargon involving inherited real estate. What does “cost basis” mean? What is a “step-up?” What is the home sale tax exclusion, and what kind of tax break does…

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Is a Charitable Lead Trust Right for You?

By Robert Pagliarini on November 12, 2015

Are you concerned about the inheritance taxes your heirs may have to pay? Then you may want to consider creating a charitable lead trust. A charitable lead trust is the inverse of a charitable remainder trust. While a CRT is structured to provide income to the trust beneficiaries and an eventual charitable donation, a CLT…

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What You Need To Know About Inherited IRAs

By Robert Pagliarini on October 22, 2015

Be sure you understand your options. When the owner of an IRA passes away, his or her heirs must be aware of the rules and regulations affecting Inherited IRAs. Ignorance can lead straight toward a tax disaster. Please note that this is simply an overview. Rather than use this article as a guide, use it…

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Best Practices When Passing Family Wealth to Children

By Robert Pagliarini on August 9, 2015

Some millionaires are reluctant to talk to their kids about family wealth. Perhaps they are afraid what their heirs may do with it. In a 2015 CNBC Millionaire Survey, 44% of families having at least $1 million in investable assets said that they had not yet told their children about their future inheritance. Another 27%…

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Turning Sudden Wealth Into Lasting Wealth

By Robert Pagliarini on May 6, 2015

Many are the stories of family wealth lost. In the late 19th century, industrial tycoon Cornelius Vanderbilt amassed the equivalent of $100 billion in today’s dollars – but when 120 of his descendants met at a family gathering in 1973, there were no millionaires among them. His fortune eroded within two generations of his passing.…

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Are Your Kids Financially Literate?

By Robert Pagliarini on February 28, 2015

How bad is financial illiteracy today? So bad that your children may be at risk of making some serious financial mistakes. Some are finding that talking to children about finances has become less about the nuts and bolts of money and more about putting money’s importance to our daily lives in the correct context. Women…

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Inheritance Planning: How to Minimize Family Fighting

By Robert Pagliarini on October 14, 2014

Should you rely on “will power” to bequeath assets? The more complex your estate, the more ill-advised that choice becomes. Having only a will in place when you die may not be enough. As MarketWatch noted recently, research from the Williams Group (a major estate planning firm) indicates that estate fights reduce inherited wealth for…

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