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Don’t rich people just gift their money and assets to a relative or trust to avoid those inheritance taxes?
by kjkjadksj 1y ago
Don’t rich people just gift their money and assets to a relative or trust to avoid those inheritance taxes?
- gjsman-1000 1y agoThe Federal Gift tax is the same as the inheritance tax - 40% - after the thresholds are maxed out. Trusts also pay the gift tax at the time of the transfer. Trusts grant control, not much in tax exemptions at this scale.
- eru 1y agoDo these taxes still apply, even if you use a charitable trust?