Don't die after this year

[Broncojohnny]

There are all sorts of ways of avoiding this bullshit

[line-em-up]

and..?

[Snatch Napkin]

There are all sorts of ways of avoiding this bullshit

Would you be so kind as to fill me in and ease my troubled mind?

I'll openly admit to my ignorance, which I'm sure is fueling my anxiety. It would be pretty damn awesome to be able to present my self better to the folks that will help me plan for my future.

A PM is perfectly sufficient, if needed.

[The King]

My dad and his 2 brothers were given some land in Bullhead City, AZ when my grandpa passed away. The g'ment shows up and tells them what their estimated taxes were BASED ON FUTURE VALUE of the land. It was around 3000 acres, and my grandpa had been acquiring it since the 50's. The irs put a presumptive value of 2x,xxx,xxx dollars on the land stating it would be worth that much IF it went commercial. After fighting it for a year, they were out of cash to continue with the fight and ended up signing over the property just to avoid bankruptcy.

That sucks, what was that property used for after being signed over?

[Denny]

Gift your wealth away in cash and/or hard assets that can't be taxed. Stay away from real estate, businesses and anything that requires government involvement to be useful (ie:cars, boats, etc).

It really limits you, but it can be done.

Pay attention to what people with REAL fortunes buy.

Trust funds can help, but to be 100% estate tax free, you'll have to do it the old fashioned way.

[Ted]

Gift your wealth away in cash and/or hard assets that can't be taxed. Stay away from real estate, businesses and anything that requires government involvement to be useful (ie:cars, boats, etc).

It really limits you, but it can be done.

Pay attention to what people with REAL fortunes buy.

You mean like black diamonds and purple lamborghinis like all the basketball players?

[Denny]

http://www.ey.com/Publication/vwLUAssets/International_Estate_and_Inheritance_Tax_Guide/$FILE/International_Estate_and_Inheritance_Tax_Guide.pdf

Australia not looking too bad..as is Austria, Brazil, Canada, China (even these commie fucks don't rape people like we are!), New Zealand, Russia, Singapore. I see expats....

Singapore would top my list on that.

[Denny]

You mean like black diamonds and purple lamborghinis like all the basketball players?

Too much of a paper trail with vehicles.

[Cooter]

Jewelry doesn't start with "Jew" by coincidence

[Denny]

Jewelry doesn't start with "Jew" by coincidence

Oy vey!

[Snatch Napkin]

I'm hoping I read it wrong, but Texas had an estate tax of 50% in 2001 of anything over $1MM? This is supposed to return under Federal Law? Something isn't adding up.

IF I weren't prepared and had to pay 55% to the gov't and 50% of what's left to the state, I would likely go smooth left.

[Sean88gt]

That sucks, what was that property used for after being signed over?

Nothing. It was desert land with some water frontage. It wasn't even a solid piece. My grandpa would grab a lot here and there and just hold it.

Bullhead City was projected to explode because of Laughlin, NV. It's grown, but only by about double, and his land was on the outskirts of the outskirts. Just a raw deal and an ass raping all the way around. He had buried his cash in real estate in hopes of transferring it to his sons and they ultimately lost all of it due to a bullshit valuation.

[Denny]

I'm hoping I read it wrong, but Texas had an estate tax of 50% in 2001 of anything over $1MM? This is supposed to return under Federal Law? Something isn't adding up.

IF I weren't prepared and had to pay 55% to the gov't and 50% of what's left to the state, I would likely go smooth left.

The Bush tax cuts from 2001 was 45% of a million and up. Maybe Texas had a 5% on top of it?

[Denny]

Nothing. It was desert land with some water frontage. It wasn't even a solid piece. My grandpa would grab a lot here and there and just hold it.

Bullhead City was projected to explode because of Laughlin, NV. It's grown, but only by about double, and his land was on the outskirts of the outskirts. Just a raw deal and an ass raping all the way around. He had buried his cash in real estate in hopes of transferring it to his sons and they ultimately lost all of it due to a bullshit valuation.

Honestly, I would only buy land that will produce for me. Ag land or rental proerty... revenue generating.

Holding land like that is just a liability with criminals behind the wheel in DC.

[Snatch Napkin]

The Bush tax cuts from 2001 was 45% of a million and up. Maybe Texas had a 5% on top of it?

I'll admit that my reading issues on a computer screen become more prevalent with a migraine, but I keep reading a Texas "pick up tax" that bounces between $1MM and $3.5MM at a rate of 50%.