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As other's have noted it can be bypassed through providing assets to children before death.
by ihsw 14y ago
As other's have noted it can be bypassed through providing assets to children before death.
- d2vid 14y agoIt's not THAT easy. Gifts are taxable: http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Frequently-Asked-Questions-on-Gift-Taxes http://www.irs.gov/Businesses/Small-Businesses-&-Self-Em... So are trust fund transfers: http://en.wikipedia.org/wiki/Generation-skipping_transfer_tax http://en.wikipedia.org/wiki/Generation-skipping_transfer_ta...
- danielweber 14y agoAt anything like a 50% estate tax, a 20-millionaire can just hire a bunch of family members at $100,000 a year and lose less in income and payroll taxes. It's not 100% trivial, but there is an entire industry devoted to helping people with this. That industry really shouldn't exist.