Quote:
Originally Posted by percy
As an executor of her will, I was beside myself when the taxman came to collect from the estate upon death. The amount of money due was ridiculous. She did everything by the book, paid taxes and still was dinged with tens of thousands of dollars. That moment changed my view of investing and I have never looked back.
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What country do you live in? In the US the current estate tax doesn't kick in until after the first 2,000,000 in assets. Then anything over that is taxed at somewhere between 37-55% depending on total estate over the first 2 million. In 2009 that exemption is going to 3.5 million. And in 2010 it set to go to -0-, meaning if you left your heirs 100 billion the tax would be nothing.
Estate Tax Rate and Limits