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Mike Janko Quotes
«There are lots of cases where someone names a trust as beneficiary because the husband (or spouse) is a bad money manager.»
Author: Mike Janko
«If the child is the direct beneficiary, then all of the IRA assets go to the child upon the mother's death and are subject to income tax.»
Author: Mike Janko
«These issues are extremely complicated.»
Author: Mike Janko
«Upon death, heirs receive a step-up in basis.»
Author: Mike Janko
«Life insurance is an important method of estate transfer to at least consider because death benefits can pass to your heirs essentially free of taxes.»
Author: Mike Janko
«Our estate tax laws allow the heirs to inherit property with a new cost basis which is equal to the fair market value.»
Author: Mike Janko
«If you inherit a checking account with $82,000, then there is no step up in basis.»
Author: Mike Janko
«We have a lot of cases where couples are in second marriages and each has children of their own.»
Author: Mike Janko
«This is not an uncommon type of estate planning. There are lots of people with sizable retirement plans with a single child as beneficiary, or minors as beneficiaries.»
Author: Mike Janko