{"id":2934,"date":"2021-04-08T08:56:49","date_gmt":"2021-04-08T12:56:49","guid":{"rendered":"https:\/\/www.stonepathwm.com\/?p=2934"},"modified":"2021-06-16T11:08:45","modified_gmt":"2021-06-16T15:08:45","slug":"tips-for-making-the-most-of-your-inheritance","status":"publish","type":"post","link":"https:\/\/www.stonepathwm.com\/tips-for-making-the-most-of-your-inheritance\/","title":{"rendered":"Tips for Making the Most of Your Inheritance"},"content":{"rendered":"\n
Baby boomers in the U.S. are set to bequeath $68 trillion in wealth by 2043, as part of the Great Wealth Transfer. Much of that will be left to Generation X and millennial heirs. If you expect to receive an inheritance, planning ahead for how you will use the wealth and account for any taxes will help you make the most of your windfall.<\/p>\n\n\n\n
If you will inherit money\u2026<\/strong><\/p>\n\n\n\n If you stand to inherit a significant amount of money, earmark it toward financial goals ahead of time so you\u2019ll be confident you\u2019re putting it where it will do the most good. Here are a few options to consider:<\/p>\n\n\n\n If you will inherit a house\u2026<\/strong><\/p>\n\n\n\n Real estate can make a more complicated inheritance. Here are two important questions to help you prepare to inherit a house:<\/p>\n\n\n\n Managing taxes<\/strong><\/p>\n\n\n\n Before you can be sure exactly how much you\u2019ll be getting from an inheritance, you have to consider the tax bill. How much you might owe depends on several factors:<\/p>\n\n\n\n Planning for inheritance is an important part of keeping on top of your personal finances, helping you decide how much you need to save for your financial goals and what you need to do now so a bequest can do the most good in the future.<\/p>\n\n\n\n SOURCES<\/p>\n\n\n\n https:\/\/info.cerulli.com\/HNW-Transfer-of-Wealth-Cerulli.html#:~:text=%2468%20Trillion%20Assets%20in%20Motion,to%20be%20the%20primary%20beneficiary<\/a><\/p>\n\n\n\n https:\/\/www.aarp.org\/money\/taxes\/info-2020\/states-with-estate-inheritance-taxes.html<\/a><\/p>\n\n\n\n