I inherited a $30K trust. My adviser says I’ll pay $10K in taxes if I cash out. How is that possible?

I inherited a $30K trust. My adviser says I’ll pay $10K in taxes if I cash out. How is that possible?
ThinkAdvisor

Here Are the States With Estate or Inheritance Taxes: 2025

Supporters of the One Big Beautiful Bill Act gave wealthy clients a great gift for 2026: Federal estate exemptions will ...

New Tax Rules: Income the IRS Won’t Touch in 2025

From financial gifts to Roth withdrawal rules, here’s what income stays tax-free under the new Trump 2025 tax bill, and some ...

I Asked ChatGPT How Much I’d Pay in Taxes If I Retired in Florida — Here’s What It Said

Estate/inheritance tax: While Florida does not have its own estate or inheritance tax, the federal estate tax may apply to ...

I’m 40 and my mom just died — leaving me a $3.25M inheritance. How do I make the most of this sudden windfall?

Beyond the tax implications, you need to make a smart plan for how to make the money last. An often cited statistic from a 20-year study by The Williams Group of 3,200 families says that 70% of the ...