The kiddie tax was created long ago to prevent wealthy parents from cutting their taxes by transferring a large amount of investments to their dependent children, who would be taxed at a lower rate.
Admit it: Whether you’re 35 or 65, the prospect of retiring without a mortgage is an attractive one. No more monthly mortgage payments to your home lender means extra money to spend on having fun in retirement. After years of punctual principal-and-interest mortgage payments, it’s the least you deserve, right?
Estate planning attorneys will agree, it’s better to die with a properly drafted will than to die without one. If you don’t have one, consider getting one.
After someone dies and the estate is settled, how long can the deceased’s name remain on the deed?