Quote:
Originally Posted by graciegirl
What is taxed, can be taxed and is taxed changes from State to State and from par...............Never mind.
I have ALWAYS been a FISCAL CONSERVATIVE. Income is not taxed in Florida. I am damned worried about how inheritance is going to be taxed soon Nationally. We have an adult child with cognitive deficits that we have saved all our life to protect after we are gone.
|
I'd ensure you have a revocable trust in place that transfers over to a nonrevocable trust in the name of the trustee upon death. We did this with my parents and now they are gone and, unless it gets changed, protects the funds. In addition, you can set up the dividends to be paid as earned so they don't get taxed at the trust income rate.