Have you received an inheritance recently? Or have you been thinking about how to leave one? In this episode, Kevin and Charlie tackle key questions about inheritance, covering everything you need to know—whether you’re inheriting or passing on assets. From new legislation to strategies that help both you and your beneficiaries maximize your wealth, this episode will give you a powerful roadmap for navigating the process today and in the future.
Listen in to learn about the important RMD requirements that affect inheritances, as well as what has changed recently with the Secure Act. You’ll hear what you can do to bypass the hurdles many people deal with when an inheritance isn’t planned as well as it should be. Don’t miss uncovering what you can do to make the whole process go more smoothly for everyone involved.
What You’ll Learn In Today’s Episode:
- What to do to prepare for your own death.
- What you need to look into before the end of the year if you have an LLC.
- What to do with your I Bonds.
- The drawbacks of not having beneficiaries.
- What to do if you inherit money today.
- What has changed with the Secure Act 2.0.
- What you need to know about RMDs and RBDs.
- Key rules to inheritances.
Ideas Worth Sharing:
- “Do the simple things that can be done today … like leaving the money to your spouse and making them a beneficiary.” – Kevin Gormley
- “If we don’t have beneficiaries, we’ve taken a very simple process and made it complex because now it becomes an asset that goes through probate. We don’t want that and it leaves a mess for our loved ones.” – Charlie Mattingly
- “You really need to make sure your loved one takes the RMD in the year that they die, and there’s a whole set of rules about how to take that money.” – Kevin Gormley
Resources In Today’s Episode:
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