UnThreaded | Threaded | Whole Thread (11) | Ignore Thread Prev | Next
Author: Wradical Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 4285  
Subject: Re: POD accounts and fed estate tax Date: 1/22/2014 10:14 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 2
am doing some estate planning. My web DD indicates that P O D (Pass on Death) accounts are not subject to federal estate taxes at the death of the principal owner. May I have your opinions? Also, if you have web citations, I would very much appreciate.

Thank you very much.

I'd love to know what you found, but it's not true. TOD, or joint tenancy assets are subject to estate tax, like any other assets. Unless there's some other reason, like it's going to the surviving spouse.

With the gift-estate tax exemption being up to $5,340,000, people who have an estate like that need to get real-life professional help, and not rely on the kind of info you found online. And TOD accounts are a rather crude way to get things done - often called a "poor man's will."

If estate taxes are an issue, you need to plan like a rich person.

Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (11) | Ignore Thread Prev | Next


2013 Feste Award Voting Begins!
Who will win the 2013 Feste Award? Vote now for the Fool that most exemplifies the Fool Community mission of Learning Together!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Tax Strategies

TMFPMarti-Feeling Good
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.