Mariner Mail: Checking Our Inbox

Throughout the life of our podcast, we have been asking you to send in any questions or thoughts you might have that you would like us to cover. In a segment we're calling Mariner Mail, we have gone through some of these financial questions and invited Scott Voss and Jadin Winberg from Mariner Wealth Advisors to help answer them. Questions answered today include:

• We pay our daughter to do chores around the house, can she use these funds to contribute to an individual retirement account?
• My attorney who created my estate plan has died. Is there anything I need to do, how do I get copies of the documents and is it still in effect?
• Where should I be keeping important documents like my will?
• Will I have to pay estate tax when I pass?
• What's the difference between a revocable and irrevocable trust?
• When assets are gifted, are there taxes associated with that gift – for either the recipient or giver of that gift?
• I've done my own taxes for years but have just received a letter from the IRS. What do I do?
• What are the most common mistakes in estate planning and tax preparation?