Msg. 08021 of 65535 (This msg. is a reply to
08016 by
ribit)
Jump:
Under normal conditions, that's correct, but a few years ago some slimeball found this loophole involving certain types of trusts which could get around that. Now don't tell me you've never gotten an invitation in the mail to have dinner at same fairly fancy restaurant where you have to sit through a presentation on how you can set-up a trust that will allow you to pass assets, tax free, to your heirs. My wife and I get these invites all the time. This is the target of the President's proposal, closing the loophole created by these new financial vehicles.
ocu
...my tax guy says that on a tax deferred inheritance the taxes have to be paid out of the estate before it can be distributed and then if it exceeds the minimums for inheritance it gets taxed again.
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