Schedule K-1 for Estates and Trusts: General Information
Protect Your Relationship with LGBT Wills, Trusts, and Deeds
How to Compile Supplemental Documents for Estate Form 706

10 Common Pitfalls for Estate and Trust Administrators to Avoid

Don't take a lump sum distribution from a pension plan, IRA, or deferred compensation plan.

When you’re trying to figure out exactly how much the estate owns, you may be tempted to liquidate everything into cash. Don’t give into that temptation when it comes to any sort of pension plan, IRA, or deferred compensation plan. As soon as you cash out, the estate owes income taxes on every penny that the decedent hadn’t already paid tax on.

  • Add a Comment
  • Print
  • Share

Recommends

Promoted Stories From Around The Web

COMMENTS »
blog comments powered by Disqus
Beyond the Simple Will: Other Kinds of Wills
Write a New Property Sale Agreement for an Estate
How to Time Payments In and Out of an Estate
How Are Family Trustees and Independent Trustees Similar and Different?
How to Read a Trust Instrument and Create a Trust Plan