[ExI] The Dogs of Immortality

Gary Miller aiguy at comcast.net
Sat Jul 12 04:41:59 UTC 2008


Kevin Freels said:

>> This estate  tax is a shame. These "estates" are just the money left over
AFTER all the income taxes were paid. It's absurd. A person who earns $1 mil
pays $350k in Federal income taxes, another $100k in state and local, SSI
and others add to this. Then after they live off of it, anything else they
manage to save for their family gets hit for another 45% when they die.
Estate taxes need to be repealed entirely. >>


Starting in 2007 in America only estates worth over $2,000,000 in value pay
this estate tax.

In 2009 the amount goes up to $3,500,000!

As it is today with proper estate planning only 2% of the population have to
worry about estate taxes coming out of their heirs inheritance.

With proper estate planning a millionaire can gift much of their estate
($12,000 per year) to their heirs prior to death and not incur as much
estate taxes.

Qualified personal residence trusts can be set up to leave their mansions to
their children without paying taxes.

And all that's without even getting creative!

Someone really worried about seeing the government getting their 45% could
even leave the money to their dogs and specify that the money could be spent
by the dogs caregivers specified in the will, anyway that the caregivers
thinks would make the dogs happy. 

So if the dog wants a new 2 million dollar yacht the caregiver can legally
buy it for them in good conscience.











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