I received 3 CD’s as a bequest from my dad. Will I have to pay any taxes on this inheritance? I would like to take some cash out of one of the CD’s, and are there any taxes or penalties if I do this?
Here are a number of factors that need to be considered before answering this completely: 1. Estate tax: The 2016 limit is $5.45 million per individual, so as long as your father’s estate was under this amount, the assets are likely yours (estate-tax-free). 2. Title: If they were solely owned in your father’s name, you […]
How do I manage this large lump sum of assets when I have never had this kind of money before?
We recommend you keep the following 6 considerations in mind when handling a large lump sum of assets. 1. Investments Our primary focus is on managing your investments, and the only way that we generate our fees is on the value of the assets that you hire us to manage. Determine what your ultimate savings […]