How to Inherit

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Aging Baby Boomers (the wealthiest generation) are inheriting from their parents and preparing to pass more than $30 trillion in assets to their Gen X and millennial children (CNBC) in the next several decades. Do you know the rules when inheriting IRAs, non-qualified annuities, stocks, bonds, mutual funds and even the kitchen sink? Do your children?  Considering that most U.S. middle income households (81%) had flat or falling income between 2004 and 2014 (MarketWatch), every dollar counts.  In this episode we cover some of these rules and we are going to briefly cover whether or not your IRA is protected from creditors and bankruptcy. Our guest expert, Shannon L. Evans, Esq. of Evans & Associates in Las Vegas, Nevada, contributed to the Ed Slott Newsletter with charts to help us navigate. The laws vary state and affect owners and beneficiaries. With 76.4 million Baby Boomers born between 1946 and 1964, 20% will be 65 or older by 2029. There will be a lot of funds passing from one generation to the next.  Join us today as Dennis teaches you how to inherit.