Estate Planning Leigh Cowden Estate Planning Leigh Cowden

Understanding the IRS Decision: Waiving Mandatory Withdrawals from Inherited IRAs

In a move that could significantly impact individuals inheriting retirement accounts, the IRS recently announced changes to the rules governing Required Minimum Distributions (RMDs) from certain inherited Individual Retirement Accounts (IRAs). This decision has sparked conversations among financial experts and beneficiaries alike, as it introduces new flexibility and considerations for retirement planning.

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Estate Planning Leigh Cowden Estate Planning Leigh Cowden

The 2023 Estate Tax Threshold Announced by the IRS

Federal Estate Tax is owed on a person’s gross estate over and above the exempted amount. I remember back in the day, in the early 2000s, when that limit was only $675.000. Over the years it has gone up, and then in 2010 or so, it jumped up quite a bit and then again in 2018. In 2022, it stands at $12.06 per person or $24.12 for a married couple.

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