Original Wally
Recycles dryer sheets
OK - so I have always tried to be a good dad. DW and I (both 70) have 3 children. We want to pass 30% to each and 10% to a favorite charity.
Our estate is more modest than many in this forum - About $1.3M
OF THAT, about $300k is in IRA accts. To make it easier on the kids, I have been moving $$ from IRA to after tax brokerage accounts - absorbing the tax hit NOW so the kids will inherit assets free and clear.
Question for y'all: Is that completely crazy? I just don't want to pass a tax burden on to the kids. Sigh.
Our estate is more modest than many in this forum - About $1.3M
OF THAT, about $300k is in IRA accts. To make it easier on the kids, I have been moving $$ from IRA to after tax brokerage accounts - absorbing the tax hit NOW so the kids will inherit assets free and clear.
Question for y'all: Is that completely crazy? I just don't want to pass a tax burden on to the kids. Sigh.