The Calloway Inheritance
The Calloway Inheritance, Episode 1: The will said “equal.”
Episode 1. Three children. One will. One form.
inheritance planning
Who should be at your family meeting?
Everyone. Our family meeting guide says to invite everyone, even the one who lives far away, and that they can join by video. Here is why telling someone afterward isn't the same, and how to invite them without pressure.
inheritance planning
Do you need to put one of your kids in charge?
Yes: one person who will step in and coordinate for the family, and a backup. Our family meeting guide calls that person your steward. The part that's easy to skip is the question that goes with it.
inheritance planning
Do you have to tell your kids how much you have?
No. A family meeting is about structure, not amounts: where things are, who to call, and who does what. Here is what to say first, what to show, and the words to use if one of your kids asks for the number anyway.
inheritance planning
Could Thanksgiving be your family meeting?
A trust is one piece of the paperwork. The family meeting is the conversation that makes it work, and Thanksgiving is the one day most families are already in the same house.
Retirement Income
What happens when your kids inherit your IRA?
Part 7 of The Rule That Taxes Your Retirement. For most children who inherit an IRA, the lifetime stretch is gone: the account must be emptied within ten years, often during their highest-earning years. Who can still stretch, where a Roth fits, and the checklist to work through now.