Nicholas Geti wrote: > The old law required that one must skip a generation. That is, you couldn't > leave it to your children; only your grandchildren. You also had to guess > when you would die. It had to be after a certain number of years since the > establishment of the trust. I don't remember the number but it had to be > long enough that no one could assume you were planning on beating the tax by > setting up the trust. > > Obama wants to ensure no one has any wealth when they die. The entrepreneur > and the farmer will have a tough time passing on his business to his > children. One reason why the death tax was being repealed was the hardship > on farmers. The children had to sell their farms to developers in order to > pay the inheritance taxes. The only wealth they had was in the land; there > was no cash or stocks. We were losing enormous amounts of farm land over the > past fifteen years. >> >> There was a loophole, and probably will be again. You transfer your >> wealth in the few years before you die, or put it in a "living trust", >> PITA, but it does the job. Kind of like using Winders.
Hi Nicholas! Incorporate. Ford, Chrysler, GM families did far better under the old 90% FDR era taxes than they are doing today. -- Regards, Pete http://pete-theisen.com/ http://elect-pete-theisen.com/ _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
