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Personally I don't see them as loopholes, they should be brought in, in my view. I think it's awful that when two people have shared a house for as long as many
by stormdennis 6y ago
Personally I don't see them as loopholes, they should be brought in, in my view. I think it's awful that when two people have shared a house for as long as many married people have, can be facing homelessness for other when the "wrong" one dies.
- SamReidHughes 6y agoWhat are you talking about? Estate tax doesn't kick in until $11.8 million.
- stormdennis 6y agoI don't live in America, didn't know it was so different there, I think it's a quarter of a million here and that's if you're a child of the deceased, it's a lot worse if your unrelated
- SamReidHughes 6y agoAh. Sorry for assuming jurisdiction.
- stormdennis 6y agoNo prob, I assumed the USA had similar inheritance laws to here.
- Fezzik 6y agoThat’s the Federal Estate Tax; individual states still have their own estate taxes. In Oregon, for example, the estate tax kicks in for assets above $1 million, and is graduated from 10-16% depending on the value of the estate. Edit: the tax does not apply to assets going from one spouse to the other, though.