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Author: Lokicious Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 125005  
Subject: Estate Taxes: Now I'm really Confused Date: 3/16/2001 9:50 AM
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A while ago I was told by an estate planning attorney that, currently, an individual can leave a total of $675,000 to their children tax free, $1,350,000 for a couple (if they do it right). As I understood it (I asked because I was confused), these are the maximum amounts, whether you have one child, two chidlren, or more. It is different from annual gifts, where you can leave $10,000 to each child, no matter how many.

Well, last night I was listening to a TV discussion of the estate tax in which an opponent of estate tax repeal stated that he could leave each of his two sons $675, 000, and so could his wife. No one disagreed with him.

I assume the lawyer is right, but I was surprised none of the proponents of estate tax repeal jumped on this.

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