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When I die......

Charcat said:
I would love to be able to leave my estate to my children instead of the US Government. Obama wants to change this. I already know that Arkady totally agrees with the government getting the majority, but what about the rest of you?
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I agree. People should be able to hand down to family without government interference....
.0d3e320598896d05f0a74bb2f19c637a.jpg
 
Charcat said:
I would love to be able to leave my estate to my children instead of the US Government. Obama wants to change this. I already know that Arkady totally agrees with the government getting the majority, but what about the rest of you?
Click to expand...


whatchew talking bout?
 
Charcat said:
I would love to be able to leave my estate to my children instead of the US Government. Obama wants to change this. I already know that Arkady totally agrees with the government getting the majority, but what about the rest of you?

http://www.atr.org/obama-budget-creates-second-death-tax
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I doubt you have anything to concern yourself about...

(the first one has a top tax rate of 40% and a standard deduction of $5.3 million/$10.6 million for surviving spouses).

Read more: http://www.atr.org/obama-budget-creates-second-death-tax#ixzz3Qcu7rwuA
 
Charcat said:
I would love to be able to leave my estate to my children instead of the US Government. Obama wants to change this. I already know that Arkady totally agrees with the government getting the majority, but what about the rest of you?

http://www.atr.org/obama-budget-creates-second-death-tax
Click to expand...

Put your estate into your childrens' names before you die.
There has always been a problem with passing on an estate. My grandparents had their holdings put into the joint hands of them and their children before their deaths and so there was easy transition. My parents did the same thing before their death in 2006. Again, no problem.

I'm sure that each administration tries to make transition more difficult so make sure you check current laws. But there is a way to make sure the government doesn't screw you.
 
Craig said:
I doubt you have anything to concern yourself about...

(the first one has a top tax rate of 40% and a standard deduction of $5.3 million/$10.6 million for surviving spouses).

Read more: http://www.atr.org/obama-budget-creates-second-death-tax#ixzz3Qcu7rwuA
Click to expand...
You never can tell, can you? ;) Unless you know something I don't.

There are exemptions for most households, but this misses the larger point: the whole reason we have step up in basis is because we have a death tax. If you are going to hold an estate liable for tax, you can't then hold the estate liable for tax again when the inheritor sells it. This adds yet another redundant layer of tax on savings and investment. It's a huge tax hike on family farms and small businesses.

Read more: http://www.atr.org/obama-budget-creates-second-death-tax#ixzz3Qcvf7BsM
Follow us: @taxreformer on Twitter
 
Jen said:
Put your estate into your childrens' names before you die.
There has always been a problem with passing on an estate. My grandparents had their holdings put into the joint hands of them and their children before their deaths and so there was easy transition. My parents did the same thing before their death in 2006. Again, no problem.

I'm sure that each administration tries to make transition more difficult so make sure you check current laws. But there is a way to make sure the government doesn't screw you.
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I'm aware of that, Jen. My parents had a family trust, thereby saving my brother and I from the government. I plan to do the same for my family.

Regardless, I believe death taxes are despicable.
 
Charcat said:
You never can tell, can you? ;) Unless you know something I don't.

There are exemptions for most households, but this misses the larger point: the whole reason we have step up in basis is because we have a death tax. If you are going to hold an estate liable for tax, you can't then hold the estate liable for tax again when the inheritor sells it. This adds yet another redundant layer of tax on savings and investment. It's a huge tax hike on family farms and small businesses.

Read more: http://www.atr.org/obama-budget-creates-second-death-tax#ixzz3Qcvf7BsM
Follow us: @taxreformer on Twitter
Click to expand...

Still, you do get to pass on 5.3 million untaxed to individuals. If, you know...that happens.

The estate I inherited was tax free. The estate I will pass on will be tax free. The estate the vast majority of people pass on will be tax free.
 
hmmmm,,,hes gotta pay for healthcare and free college...

there are more that 9 ways to skin a cat...
and many more to reduce your tax liability on your family after passing....
 
Charcat said:
I'm aware of that, Jen. My parents had a family trust, thereby saving my brother and I from the government. I plan to do the same for my family.

Regardless, I believe death taxes are despicable.
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I agree that they are despicable.
Many people don't know to protect themselves from them. I"m glad you do.
This administration is no doubt trying to call what I mentioned and what you have done a "loophole" to close. That's even more despicable.
 
oicu812 said:
hmmmm,,,hes gotta pay for healthcare and free college...

there are more that 9 ways to skin a cat...
and many more to reduce your tax liability on your family after passing....
Click to expand...
Agreed....but it's the thought that counts. :rolleyes:

Figure out how much you have paid the government in your lifetime. But that's not the end of it--they want to take what they can after you're dead.
 
Charcat said:
I would love to be able to leave my estate to my children instead of the US Government. Obama wants to change this. I already know that Arkady totally agrees with the government getting the majority, but what about the rest of you?

http://www.atr.org/obama-budget-creates-second-death-tax
Click to expand...

Are you going to leave more than 5 million bucks to each of your kids? If not, i wouldn't worry too much. ;-)

http://www.cbpp.org/cms/?fa=view&id=2655

http://www.thedailybeast.com/articles/2015/01/23/three-cheers-for-the-death-tax.html
 
marvin martian said:
Yeah, don't be financially successful, got that?
Click to expand...

Marvy, that's just stoopid. But we've come to expect such.

2012-01-25-tippy-and-marvin-the-martian.jpg
 
Charcat said:
I would love to be able to leave my estate to my children instead of the US Government. Obama wants to change this. I already know that Arkady totally agrees with the government getting the majority, but what about the rest of you?

http://www.atr.org/obama-budget-creates-second-death-tax
Click to expand...
Obama is a thief. Had he been handed a robust economy he would have decimated the white middle class with redistribution. Look how with even a modicum of a come back economically he is out gunning with is redistributive money blunderbuss.
 
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Bo-4 said:
Are you going to leave more than 5 million bucks to each of your kids? If not, i wouldn't worry too much. ;-)

http://www.cbpp.org/cms/?fa=view&id=2655

http://www.thedailybeast.com/articles/2015/01/23/three-cheers-for-the-death-tax.html
Click to expand...
I'm well aware of how much money this applies to. Does that make it any less obscene? By the way, by the time I die, who knows?

In the meantime, if you accumulate 5+ million, would you rather the government have it, or your daughter? Just askin......
 
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