Over the past few weeks, I’ve been asking my clients to send me their most recent tax return. By looking through their returns for missed opportunities and mistakes, there’s a few patterns I’ve noticed.
A private annuity arrangement supplies the annuitant with a stable retirement income, keeps assets within the family, and minimizes the tax burden for heirs.
The future increase in estate taxes could cause problems for your inheritance and retirement income down the road. To protect yourself from heavy taxation, know what tax laws are changing, be proactive in your retirement planning, and look at perusing difference inheritance strategies such as gifting and life insurance.