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My father passed away last week. I had wills written up for him, he has a small c corp, and we don’t live in a community property state. Mom’s still with us, fortunately.
Besides informing social security, filing a life insurance claim, getting a death certificate, flagging his credit card, and starting the probate process, is there anything else I need to do immediately (in a financial/regulatory sense)?
I’ve been following the guide here: https://www.reddit.com/r/personalfinance/wiki/death_of_loved_one/ but others guidance is always appreciated.
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I would own equity funds in both. In theory the one with highest expected growth in Roth
In a taxable account you can go heavier on international equity because you can take a foreign tax credit on your US tax return.
In a non taxable account you can go heavier on REITs if you want since they do not count as qualified dividends when held a taxable account,
In both you can lean toward equities if you are young
Exactly EY … not qualified … thus the tax credit on additional foreign taxes paid.
And btw international equities tend to have higher div yields on average compared to domestic