In a word, yes! Just ask Maureen Mangiardi. Ten years after her father passed away the IRS came to the door asking for the IRA she inherited. You can read a Cliff Notes summary of the battle as written by Robert Wood in a recent issue of Forbes (see link below).
What’s the moral of this story? If you serve as an estate executor, take the responsibility seriously! Here’s what happens to the heirs when you don’t. For our existing clients, we offer a free summary of what your duties as an executor entail. Click here to receive a copy.
From the August 10, 2013 issue of Forbes.
David Conley
David is a partner at Smith, Conley & Associates, PC. In addition to writing and tax consulting, he is active in the pro-life community serving as President of the Fayette County Right to Life chapter of Georgia Right to Life.
He is also a founding Board Member and Finance Director of the Fayette Pregnancy Resource Center and serves on the Board of the National Equal Rights Institute.
He is also a founding Board Member and Finance Director of the Fayette Pregnancy Resource Center and serves on the Board of the National Equal Rights Institute.
Latest posts by David Conley (see all)
- Tax Reform in picture format:
Our infographic explains 10 key elements of tax reform
- November 9, 2018 - What happens when the heirs lose the Will?:
Here's what one family was forced to do.
- September 25, 2018 - IRS Amnesty Program ends September 28!:
Non-reported foreign bank accounts will cost you dearly
- September 24, 2018
