Tilted Cat Head
Administrator
Location: Manhattan, NY
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Quote:
Originally Posted by Tully Mars
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
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Not to mention you could even do better planning and create trusts wherein you've eliminated all risk for taxation, because we all know they can change the laws for estate taxes.
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