This 25-Year-Old Is Vying To Become Hollywood’s First AI Movie Mogul. Plus: What To Do With All Your Parents’ Stuff
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Americans spend a lot of time thinking about where to live for tax purposes. But another question gets less attention: Where is the most expensive place in the U.S. to die? My colleague, tax attorney and Forbes senior writer Kelly Phillips Erb, has been exploring this and other important estate-planning questions over the course of this week, and so I want to use today’s note to highlight her good advice.
First up, here’s her state-by-state guide to estate and inheritance taxes and onerous probate fees. As Kelly told me in this Forbes Talks segment, there’s not necessarily one “worst” state in which to pass away, but there are states with more complicated inheritance tax laws than others. Maryland residents, pay especially close attention to this story.
Kelly lost her dad in October and, along with her mom and siblings, has been navigating the often-thorny questions around what to do with old financial records, collectibles, and beloved items. She’s also had to wrangle missing social security survivor benefits for her mother, and like any good writer, she’s using her experience to help inform her coverage. This is her handy breakdown of which receipts, documents and tax forms must be saved, and for how long, to satisfy the IRS, and here you can find a very helpful explainer about what to do with all your parents’ stuff.
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