Smart Wealth Blog

One of my clients is a plumber who owns and runs his own business. He employs his wife and four children. We are able to do some pretty cool things for them. Their combined net worth — including their home, investments, and retirement accounts — was a little over $500,000. It might seem like estate taxes won't affect this couple. However, that's not the case. Net worth and estate value are not always the same thing.

I recently had a meeting with a couple that is in their early 40s to talk through their current estate plan. Their combined net worth — including their home, investments, and retirement accounts — was a little over $500,000. It might seem like estate taxes won't affect this couple. However, that's not the case. Net worth and estate value are not always the same thing.

An inherited IRA is inherited money that has yet to be taxed. 

One of my favorite things to say in a client meeting is: Did you know that you’re now "work optional"?

If you’re like me, you don’t mind paying the tax that you owe — but overpaying taxes…no thank you!

Nobody wants to pay more tax than they absolutely necessary. And that’s understandable. For many of us, tax is our biggest expense. 

Estate planning can be complex, and it’s not uncommon to make mistakes.