No. of Recommendations: 1

I am a hundredaire.
But I am hopeful of being a thousandaire. lol
I'd have to win the lottery to be a millionaire.

-- MrMax --

Your original post seemed very concerned with estate taxes, yet you really have no estate to speak of? Better to spend your time (and money) creating that estate than fussing about what happens if ...

The estate taxes are being reviewed and changed continuously. My hope is that they would hit upon something like $5 to $10 million is below the estate tax threshhold, and then put a reasonable COLA on the number and then LEAVE IT ALONE.

The original rationale for the tax was to prevent the accumulation of enormous family fortunes, handed from generation to generation, tax free, amounting to a moneyed nobility. It hasn't worked very well, because those with large family fortunes bought enough votes in congress to riddle it with loopholes. As it is, anyone with an estate large enough to trip the estate tax can set up a family trust to avoid the tax. Like it or not, the tax is a paper tiger, which the rich use as a boogie man to scare people. "The Death Tax isn't fair! Vote the rascals out!" That's about it. There are still people who sometimes get to pay estate taxes, but that's poor planning on their part, or they are extemely wealthy.

Not true a few years ago.

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