 death tax (by woody [OK]) Apr 8, 2021 8:32 PM
 death tax (by Homer [TX]) Apr 8, 2021 11:26 PM
death tax (by Robert J [CA]) Apr 9, 2021 3:28 AM
death tax (by Marv [IL]) Apr 9, 2021 8:14 AM
death tax (by Robert J [CA]) Apr 9, 2021 8:32 AM
death tax (by Landlord ofthe Flies [TX]) Apr 9, 2021 2:29 PM
death tax (by Nicole [PA]) Apr 9, 2021 3:21 PM
death tax (by Allym [NJ]) Apr 9, 2021 6:57 PM
death tax (by Ray-N-Pa [PA]) Apr 9, 2021 7:17 PM
death tax (by Robert J [CA]) Apr 10, 2021 4:31 AM
death tax (by woody [OK]) Posted on: Apr 8, 2021 8:32 PM
Message:
How to protect your real estate. --173.47.xxx.xxx |
death tax (by Homer [TX]) Posted on: Apr 8, 2021 11:26 PM
Message:
Go red in the future......Boo to the Blue. --66.169.xxx.xxx |
death tax (by Robert J [CA]) Posted on: Apr 9, 2021 3:28 AM
Message:
The laws and tax codes are changing. I have on speed dial a Trust/Probate Attorney, A Tax CPA, a Real Estate Investment expert and others. Because of the TAX Changes, this year I will spend over $25,000 reviewing my holdings and my Family Trust to optimize my estate savings in the case of 1st and 2nd death.
Estate taxes can be the largest "costs" on a family. It used to be 49% after a curtain limit was reached. Now there's another twist to that.... --47.155.xx.xxx |
death tax (by Marv [IL]) Posted on: Apr 9, 2021 8:14 AM
Message:
No death tax until you are worth $11.5M. I'm good. --67.184.xxx.xxx |
death tax (by Robert J [CA]) Posted on: Apr 9, 2021 8:32 AM
Message:
Conditions have to be met for the 11.5M amount to be estate free, not tax. The way you hold title and to whom you leave it too....don't put you head in the sand and say, "I'm good", when you're not! --47.155.xx.xxx |
death tax (by Landlord ofthe Flies [TX]) Posted on: Apr 9, 2021 2:29 PM
Message:
The way my mother did is was to setup an irrevocable trust where the benefactors are the people going to have to pay the inheritance tax. Since it's irrevocable, she doesn't own it nor is it calculated in her estate. In that trust was a life insurance policy. The policy premiums were put in the trust each year by my mom, and when she died, that policy was tax-free and used to pay the inheritance taxes. It paid for half of the taxes and she saved up cash reserves over the years to pay the rest. No need to sell any of the assets. --108.69.xxx.xxx |
death tax (by Nicole [PA]) Posted on: Apr 9, 2021 3:21 PM
Message:
...No death tax until you are worth $11.5M...
in Pennsylvania, you pay inheritance tax on the first dollar. Of course, there are deductions, etc., that eliminate tax on smaller estates. Spouses and charities are excluded. Tax rates are 4.5% lineal, I believe 12% siblings and then 15% everyone else. --72.70.xxx.xx |
death tax (by Allym [NJ]) Posted on: Apr 9, 2021 6:57 PM
Message:
A Trust will stop the death tax. I believe the administration will end all inheritance as they want to redistribute wealth. No matter what the federal amount that kicks in now, set by 45, Mr. zero will change it. Certain groups now do not believe in inheritance and would like to get our houses. Almost every week one of that group asks me number of bedrooms or something that indicates they might choose MY house when the time comes. --108.24.xx.xx |
death tax (by Ray-N-Pa [PA]) Posted on: Apr 9, 2021 7:17 PM
Message:
Place the properties in a REVOKABLE land trust now naming yourself and an LLC as a trustee.
Design that trust with a successor Trustee as your IRREVOKABLE living trust.
So when you kick the bucket, the money shifts from one trust to the other tax free. Then have your successor beneficiaries sell off the fractional ownership of the trust.
As for protecting yourself against death, you need to check in with a much higher authority --24.154.xx.x |
death tax (by Robert J [CA]) Posted on: Apr 10, 2021 4:31 AM
Message:
Consult, meaning pay for the advice, from the right attorney. Not a family lawyer, person injury lawyer or business attorney. But a bonified Estate and Probate attorney from your State. --47.155.xx.xxx |
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