Strange Culprits on Nostr: At the federal level, thanks to generous inflation adjustments, the number of estates ...
At the federal level, thanks to generous inflation adjustments, the number of estates that pay *any* estate tax is exceptionally low: in the few thousand per year range, for a country where a few million people die every year.
Our singer happens to be an estate planning lawyer by day. Here are the numbers:
For 2024, the individual estate tax exclusion is more than $13 million. Married couples get to double the exclusion, so for them, it's over $26 million.
And what of billionaires? They can set up and "give" their loot to foundations to employ their descendants in perpetuity, to run things like art museums that are never open to the public.
The current inheritance tax system is, in a word, unconscionable.
Our singer happens to be an estate planning lawyer by day. Here are the numbers:
For 2024, the individual estate tax exclusion is more than $13 million. Married couples get to double the exclusion, so for them, it's over $26 million.
And what of billionaires? They can set up and "give" their loot to foundations to employ their descendants in perpetuity, to run things like art museums that are never open to the public.
The current inheritance tax system is, in a word, unconscionable.