[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fCEx9gylqhQLc4M63LKecXB21TSAtQz1ne3B8AL87uyc":3,"$f9iW67gbctF0jfd3VFuC2IrdrwFOYxhqOYfKUo-_dbAE":12},{"author":4,"tags":11},{"author_id":5,"author_name":6,"author_name_first_letter":7,"article_count":8,"bio":9,"short_bio":9,"slug":10,"image_url":9},151238,"Mike Janko","M",8,null,"mike-janko",[],{"quotes":13,"pagination":106},[14,27,38,49,60,71,82,93],{"id":15,"quote_text":16,"author_id":5,"source_id":17,"has_image":18,"author":19,"source":20,"quote_tag":21,"commentary":9},1771853,"If you inherit a checking account with $82,000, then there is no step up in basis.",4,false,{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[22],{"id":23,"tag":24},4762779,{"id":25,"tag_name":26},4334,"account",{"id":28,"quote_text":29,"author_id":5,"source_id":17,"has_image":18,"author":30,"source":31,"quote_tag":32,"commentary":9},1771842,"This is not an uncommon type of estate planning. There are lots of people with sizable retirement plans with a single child as beneficiary, or minors as beneficiaries.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[33],{"id":34,"tag":35},4762776,{"id":36,"tag_name":37},1036,"child",{"id":39,"quote_text":40,"author_id":5,"source_id":17,"has_image":18,"author":41,"source":42,"quote_tag":43,"commentary":9},1771830,"Our estate tax laws allow the heirs to inherit property with a new cost basis which is equal to the fair market value.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[44],{"id":45,"tag":46},4762765,{"id":47,"tag_name":48},3699,"allow",{"id":50,"quote_text":51,"author_id":5,"source_id":17,"has_image":18,"author":52,"source":53,"quote_tag":54,"commentary":9},1771816,"There are lots of cases where someone names a trust as beneficiary because the husband (or spouse) is a bad money manager.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[55],{"id":56,"tag":57},4762751,{"id":58,"tag_name":59},2891,"bad",{"id":61,"quote_text":62,"author_id":5,"source_id":17,"has_image":18,"author":63,"source":64,"quote_tag":65,"commentary":9},1771807,"Upon death, heirs receive a step-up in basis.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[66],{"id":67,"tag":68},4762739,{"id":69,"tag_name":70},5102,"receive",{"id":72,"quote_text":73,"author_id":5,"source_id":17,"has_image":18,"author":74,"source":75,"quote_tag":76,"commentary":9},1771793,"We have a lot of cases where couples are in second marriages and each has children of their own.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[77],{"id":78,"tag":79},4762720,{"id":80,"tag_name":81},12041,"cases",{"id":83,"quote_text":84,"author_id":5,"source_id":17,"has_image":18,"author":85,"source":86,"quote_tag":87,"commentary":9},1771772,"If the child is the direct beneficiary, then all of the IRA assets go to the child upon the mother's death and are subject to income tax.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[88],{"id":89,"tag":90},4762708,{"id":91,"tag_name":92},7501,"assets",{"id":94,"quote_text":95,"author_id":5,"source_id":17,"has_image":96,"author":97,"source":98,"quote_tag":99,"commentary":105},1771753,"Life insurance is an important method of estate transfer to at least consider because death benefits can pass to your heirs essentially free of taxes.",true,{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[100],{"id":101,"tag":102},4762692,{"id":103,"tag_name":104},8336,"benefits","**The Backstory**\nThis quote is likely from a 20th-century American author, possibly a financial advisor or estate planner, reflecting the post-war era's emphasis on family legacy and tax planning. During this time, there was a growing interest in managing one's assets to secure their children's future, often with an eye towards minimizing taxes. The sentiment echoes the concerns of parents during this period.\n\n**The Hidden Insight**\nBeneath its seemingly practical advice lies a nuanced observation about human behavior: that the prospect of mortality can drive us to be more thoughtful and responsible stewards of our resources. This insight highlights how our awareness of the finality of death can paradoxically foster a sense of long-term planning and responsibility, rather than simply being driven by short-term desires.\n\n**How to Use This**\nTo apply this mindset today, consider that acknowledging your own mortality can be a catalyst for clarity in your financial decisions and estate planning. By regularly confronting the reality of your own limited time, you may find yourself making more intentional choices about how you allocate your resources and plan for the future.",{"currentPage":107,"totalPages":107,"totalItems":8,"itemsPerPage":108},1,10]