#7 - This inheritance tax does decimate many family farms that have lots of land/livestock/equipment but very little cash to pay the massive death tax...
uh, if your family farm is valued massively enough in excess of 5 million dollars to actually be impacted by the tax in any noticeable way, they had better have a fair amount of cash on hand, otherwise they were failing badly and should have liquidated anyway.
Laurence,
..you'd still have to pay taxes on it anyway even if you did it before you died.
In WA state it is technically illegal to walk around with a common cold. Also illegal to harass big foot. Yet they have a statue of Lenin in Seattle. Wonder if their will be any new laws as a result of that lovely Chaz commune. What a sadly ignorant mess that is.
#7 This is why a lot of people sign their property over to their children in their old age and gift their children and family money before they pass. It's a smart thing to do, but unfortunately some recipients are garbage people and treat their parents badly, so their parents don't give them that kind of power in old age because they know their kids will leave them destitute if they prepay them their inheritance.
#7 - This inheritance tax does decimate many family farms that have lots of land/livestock/equipment but very little cash to pay the massive death tax...
uh, if your family farm is valued massively enough in excess of 5 million dollars to actually be impacted by the tax in any noticeable way, they had better have a fair amount of cash on hand, otherwise they were failing badly and should have liquidated anyway.
Laurence,
..you'd still have to pay taxes on it anyway even if you did it before you died.
In WA state it is technically illegal to walk around with a common cold. Also illegal to harass big foot. Yet they have a statue of Lenin in Seattle. Wonder if their will be any new laws as a result of that lovely Chaz commune. What a sadly ignorant mess that is.
#7 This is why a lot of people sign their property over to their children in their old age and gift their children and family money before they pass. It's a smart thing to do, but unfortunately some recipients are garbage people and treat their parents badly, so their parents don't give them that kind of power in old age because they know their kids will leave them destitute if they prepay them their inheritance.
to your inner thigh” Fact! Google it.
Or caught...
uh, if your family farm is valued massively enough in excess of 5 million dollars to actually be impacted by the tax in any noticeable way, they had better have a fair amount of cash on hand, otherwise they were failing badly and should have liquidated anyway.
Laurence,
..you'd still have to pay taxes on it anyway even if you did it before you died.