Kendall and Bexar County Estate Planning
Texas Estate Planning Blog
Kiplinger’s recent article entitled “Moving Forward Financially After the Loss of a Loved One” says that there really are no rules about how you should feel or how long it will take you to regain your energy and ability to move forward. Grief is difficult to avoid, but there are many financial and legal tasks that will require your immediate attention. Here are some of the actions that can ease this process and help you to get back on track financially.
Here’s a breakdown of what you will need to address in the near future:
You should seek the advice of an experienced estate planning or probate attorney. You should also retitle any joint accounts into your name and transfer any inherited IRA into your name and take out a required minimum distribution (RMD), if applicable. New beneficiaries should also be named and deeds for any real estate jointly held with rights of survivorship updated.
You need to file a federal estate tax return within nine months.
Don’t face these challenges alone. Contact an experienced estate planning lawyer for help.
Reference: Kiplinger (Jan. 8, 2020) “Moving Forward Financially After the Loss of a Loved One”
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