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Why does estate tax apply?
by xenospn 3y ago
Why does estate tax apply?
- defen 3y agoDepends on how long he has to live and set things up to work around it, but Oregon has an up to 16% estate tax + federal estate tax of up to 40%. Kicks in after 16 million or so.
- silisili 3y agoI think this was meant to be a dark comment. They only apply upon death when wealth is being passed to heirs. However, he's married, so in the unfortunate event of his death, AFAIK his wife would -not- have to pay any estate taxes.
- onionisafruit 3y agoI assume that’s because he has cancer. I hope it doesn’t apply to him for many years though. Imagine winning the lottery then dying six months later. Your heirs pay $200M for the privilege of you having that money for a few months.
- xenospn 3y agoI’d be ecstatic that I set my family up for life and die with a smile on my face.
- theGeatZhopa 3y agoAnd die like king tut.. spend the half on the passing haha
- auntienomen 3y agoThe money doesn't belong to the heirs. Winner can donate all of it if he wants.
- readthenotes1 3y agoI don't know. I thought people set up trusts to get around that