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Old 04-14-2005, 04:47 PM   #61
lookout123
changed his status to single
 
Join Date: Apr 2004
Location: Right behind you. No, the other side.
Posts: 10,308
as far as the titling issue, it is different in different states. you'll have to check your situation.

whether some people are more or less blessed with monetary assets, etc. is completely irrelevant. if a person works hard and gathers assets for his family why should the gov't get a second crack at it?
and i honestly don't know what you are calling a red herring. the estate tax is a redistribution of wealth, pure and simple. we say we don't agree with that in our country, but then we turn around and are willing to do it in this way.

BTW, the family involved is taking it all very well, but stop and look at it from their perspective. work hard, build a life, gather assets, then have to give the gov't 40% when he dies. why?

i guess part of my point is that having ridiculous taxes like this only generates more business for CPA's and attorneys. the ultra wealthy protect what they have. even most of the everyday successful people in danger of the estate tax build their trusts to avoid it. so in the end the people who do end up paying for it are the ones that aren't much different from us.

as for me? i'm not in any danger of going over those limits any time soon. but i do have an excellent trust in place and all of my life insurance is owned by a separate Life Insurance Trust so that it beats the aggregate rules.

i just think it is sad that people don't see this as a problem because the politicians have been so successful at turning the classes against eachother. i guess they have to keep us stabbing at each other so we won't turn our knives on them, huh?
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