The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing


Subject:  Re: Estate / death taxes: was my grandfather foo Date:  4/14/2008  1:43 PM
Author:  mrparrotfez Number:  62260 of 88435

Even if you don't owe a lot of estate tax and have a lawyer help plan every aspect of your will and estate, estates still mean job security for lawyers. I hate to think how much my sister-in-law paid those lazy scum who helped drag out an uncontested will for two whole years, and only managed to notify her and the other heirs on April 2: "Oh, by the way, you all owe tax for the interest income the estate made before it closed. Sorry we didn't mention that before; we didn't think you'd mind. But don't worry, because you have a big net loss, you'll take a big hosing now but you'll have carryover losses for ten years. Yeah, guess that means each of you will have another pile of taxable income. Unfortunately you will have to have K-1s, and of course we will gladly prepare them for you for a fee. You already filed? Gee, sorry about that. We will try and get you your K-1s sometime soon."

Far as I'm concerned, there is a simple reason the law is complex: it's mostly made and interpreted by lawyers, who recognize that if law were remotely accessible to the average person, they would have a much tougher time billing you $400 per hour for arrogance, sloth and lousy advice. Asking Congress to simplify the law is like asking General Motors to build bicycle paths. We have reached the stage where the decision to sue signifies that one hates the other side so venomously one would rather lawyers have the money than the other side. That takes a level of hatred that would literally burn the banknotes rather than let the other side have them--because that's the best that can occur.

Try telling a judge sometime that something is 'unjust.' The judge will look at you like you're a moron (in his eyes, that's just, because you have just proven your moronosity) and say: "Justice has nothing to do with it. What matters is how the law applies to the facts." Or go to law school and utter the word 'justice' in class. Wait for the professor's blistering reply: "Young man, you seem to have gotten lost. Evidently you enrolled in a course in justice, but you have instead stumbled into a course on the law."
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us