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Currently, the inheritance tax exempts the first $11.5 million of an estate from the estate tax. Do you think your heirs will need more than that? This threshol
by metabagel 5y ago
Currently, the inheritance tax exempts the first $11.5 million of an estate from the estate tax. Do you think your heirs will need more than that? This threshold goes up every year, by the way.
I think it’s generally accepted that there should be a minimum threshold for the estate tax. You can consider it to be implied unless specifically stated otherwise.
- heipei 5y agoI should have added that I'm German, and here the estate tax is only exempt on the first €500k for spouses and €400k for each child. And everything above is taxed between 25% and 50% depending on your income tax bracket. Real estate is exempt if the heirs continue to live in it for at least 10 years. Edit: And yet I've heard the calls for 90%-100% estate tax from voices in Germany...
- debug-desperado 5y agoThe problem is that number was as low as $1 million a decade ago. Inheritance taxes are a political football, and the current system just blindly taxes the estate rather than the one who receives the inheritance. If the goal is fairness or distribution of resources, it makes sense to switch to system like in Ireland where each heir is taxed individually.