Inheriting property or other assets typically involves filing the appropriate tax forms with the IRS. Schedule K-1 (Form 1041) is used to report a beneficiaryâs share of an estate or trust, including income as well as credits, deductions and profits. … Continue reading →
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Old checking accounts can become troublesome if you’re not paying attention to them. Whether they’re overdrawn before you move on to another account or become overdrawn because you’re not monitoring them regularly, they can leave you on the hook for debt. If you’re not careful, old bank accounts can even affect your credit and the… Read More
The post How an Old Checking Account Can Come Back to Haunt You appeared first on Credit.com.
When creating an estate plan, one of the most basic documents you may wish to include is a will. If you have a more complicated estate, you might also need to have a trust in place. Both a will and … Continue reading →
The post Per Stirpes vs. Per Capita in Estate Planning appeared first on SmartAsset Blog.
A fiduciary deposit account is an account that’s owned by one or more persons but managed by another. The owner is known as the principal, while the manager is known as the fiduciary. These accounts are sometimes used to handle … Continue reading →
The post What Is a Fiduciary Deposit Account? appeared first on SmartAsset Blog.