3 ms·
Don't a lot of people establish a living trust to avoid it anyway? It would be interesting to see what percentage of people who qualify to pay an estate tax act
by antidaily 17y ago
Don't a lot of people establish a living trust to avoid it anyway? It would be interesting to see what percentage of people who qualify to pay an estate tax actually pay the full amount.
- grellas 17y agoA living trust serves primarily as a vehicle by which to avoid having one's estate pass through probate - it does not reduce any applicable estate tax that is otherwise payable on death.
- anguslong 17y agoArticle says 5500 average per year fall into current estate tax. Estates taxed at 45% beyond the $3.5 million threshold (2009). 2010, tax is 15% of all assets without further action by Congress (or retroactive action). In 2011, 55% tax beyond $1 million. Which impacts significantly more (cite?) than 5500 estates. $1 million includes property, fixtures, assets, cash. Shame that tax code will (no doubt) impact decisions of quite a few terminal patients.