Newspaper article The Topeka Capital-Journal

Couple Worries about Tax Inheritance for Son

Newspaper article The Topeka Capital-Journal

Couple Worries about Tax Inheritance for Son

Article excerpt

Dear Bruce: My husband and I retired early and hopefully we will not have to access our 401(k)s for living expenses during our lifetimes. We have about $700,000 combined in two accounts. My question is, when we pass away, what will the tax burden be for our only son? Of course, this is pre-tax money. Also, should we move any into another vehicle to help offset? -- K.M.

Dear K.M.: I wouldn't concern myself too much about trying to shift accounts to save money. On the other hand, with $700,000, you can certainly afford to buy the resources of an investment adviser and ask him what (if anything) you can do to help your son avoid taxes.

Dear Bruce: The hamburger chain Wendy's has begun selling its products through self-service kiosks. This move reduces personnel as labor costs rise to cover Obamacare amid the social media movement to raise the minimum wage to $15. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.