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Roth IRAs: One of the Better Estate Planning Tools Available?

According to a recent article in the Wall Street Journal, the best financial asset to leave your heirs is a Roth IRA. Unlike an IRA or a 401k Plan, a Roth IRA is funded by after-tax money; that is, you do not get a tax deduction for contributions to a Roth IRA (as opposed to contributions to an IRA or 401k Plan). However, after a five-year "vesting" period, during which you cannot receive any distributions without tax consequences from the Roth IRA, you may receive distributions from the Roth IRA tax free.

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Avoid Family Disputes and Will Contests with Proper Estate Planning

The media is fraught with tales of woe about young adults squandering their parents' amassed wealth within just a few years of their passing. In response to similar concerns, baby boomers - those in the U.S. born between 1946 and 1965 -are thinking twice about leaving everything to their children in their estate plans.

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Death and Taxes in Massachusetts

Writing a will is considered to be one of the best ways to ensure that your assets are distributed to your loved ones, exactly as you intend, at the time of your death. For most people, federal estate taxes aren't an issue to be worried about, because only those with taxable gifts exceeding $5.25 million, for those who pass away in 2013, need to file a Federal Estate Tax Return, as provided by the IRS. However, some states impose an additional State Estate Tax, often for those who have $1 million or less to distribute upon death.

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