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Happy Panther

2013 will be a bad year to die.

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thefuzz    4,241

I am nervous for my parents in this situation.

My grand parents have probably accumulated about $1M in total assets, with the majority of that being a home on the beach that they have owned since the 60's.

Both are in poor health, and it would not shock me to have to bury one of them this year. I can't believe that the US Government is going to tax them because they have lived a thrifty lifestyle, and invested well enough to have some cash when they are gone.

I guess we will see though.

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logic1977    237

Gift used to be capped at 200k a year. If you plan far enough in advance you can move a lot tax free, but really death taxes are just evil

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what's wrong with the estate tax? it's not like you're going to be doing anything with your poo when you're dead and i mean, i don't want some stupid parasites inheriting their parents' stuff rather than actually working for a living am i right fellow republicans?

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MadHatter    9,519

what's wrong with the estate tax? it's not like you're going to be doing anything with your poo when you're dead and i mean, i don't want some stupid parasites inheriting their parents' stuff rather than actually working for a living am i right fellow republicans?

You are either stoned, drunk, or stupid. Personally I am betting that it is all of the above.

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thefuzz    4,241

what's wrong with the estate tax? it's not like you're going to be doing anything with your poo when you're dead and i mean, i don't want some stupid parasites inheriting their parents' stuff rather than actually working for a living am i right fellow republicans?

In my life I don't think that I have ever talked to a person that was born in the US and was more of a communist than you seem to be.

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Epistaxis    51

I am currently meeting with my peeps to avoid this at all costs.

Setting up trusts for assets and life insurance policies is a logical first step.

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pstall    5,759

Ya gotta have trusts. Make sure your benes on stuff goes one half to the trust and the other to your kids.

Gifts are capped around 12k but to direct family members. If you have large amounts I would hope you have good financia people around to smartly give the money to good charties etc as well as investing in tax advantageous vehicles.

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