Parents/in-laws paying estate tax to avoid giving while alive

[Anonymous]

Anonymous wrote:

Anonymous wrote:Oh for heaven's sake OP. If you are so financially successful that your ILs, who you predict will end up owing estate tax, are jealous, then why do you even care? If you ae that rich, then an 18k per year gift to your kids isn't going to make a difference in the grand scheme of things. MYOB. You are obsessing and acting pretty disgusting.

It’s the waste of it! We are going to get the money when they die either way. Why pay multiple millions in estate tax if you don’t have to? I’m not saying they give us “all” the money early, just enough to avoid the tax. This is so out of character for them considering all the other things they do to minimize taxes. They are so resentful of paying the Medicare supplement, etc. But they are willing to give Uncle Sam all this money they don’t have to?

Do they understand why they’d do this? Do they have a financial advisor or are they DIY? Are they really financially literate? Maybe they think paying taxes now means not paying taxes when inherited?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Oh for heaven's sake OP. If you are so financially successful that your ILs, who you predict will end up owing estate tax, are jealous, then why do you even care? If you ae that rich, then an 18k per year gift to your kids isn't going to make a difference in the grand scheme of things. MYOB. You are obsessing and acting pretty disgusting.

It’s the waste of it! We are going to get the money when they die either way. Why pay multiple millions in estate tax if you don’t have to? I’m not saying they give us “all” the money early, just enough to avoid the tax. This is so out of character for them considering all the other things they do to minimize taxes. They are so resentful of paying the Medicare supplement, etc. But they are willing to give Uncle Sam all this money they don’t have to?

Do they understand why they’d do this? Do they have a financial advisor or are they DIY? Are they really financially literate? Maybe they think paying taxes now means not paying taxes when inherited?

They understand the tax implications. I don’t know the why. FIL’s parents paid a large part of DH and his siblings college tuition so my in-laws benefited from this in the past. Don’t most parents want their kids to do better than them? They make passive aggressive comments all the time about my SIL’s spending (their daughter) even though she has the income to back it up.

[Anonymous]

Anonymous wrote:The daughter-in-law nightmares are made of. MYOB.

No statement has ever been more truthful. We, okay me, are leaving nothing to our son because of his greedy rude wife.
She won't find out until we pass but I'd love to see the look on her face when she does find out. She's a mean girl that sees herself as a Princess. And a know it all as far as parenting goes. She has that only child syndrome. Her mother needs to make sure she's taken care of. I won't. My son goes along with her because he's afraid she'll divorce him. So he can deal with the fallout.

I get no joy saying the above but this girl should not be rewarded for disrespecting us. She has no manners. AT ALL.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The daughter-in-law nightmares are made of. MYOB.

No statement has ever been more truthful. We, okay me, are leaving nothing to our son because of his greedy rude wife.
She won't find out until we pass but I'd love to see the look on her face when she does find out. She's a mean girl that sees herself as a Princess. And a know it all as far as parenting goes. She has that only child syndrome. Her mother needs to make sure she's taken care of. I won't. My son goes along with her because he's afraid she'll divorce him. So he can deal with the fallout.

I get no joy saying the above but this girl should not be rewarded for disrespecting us. She has no manners. AT ALL.

Ma'am, this is a Wendy's.

[Anonymous]

We have an early frontrunner for "DCUM's Greediest Wanker" Award! Not even May and this one just bolts out of the gate! Well Done!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Oh for heaven's sake OP. If you are so financially successful that your ILs, who you predict will end up owing estate tax, are jealous, then why do you even care? If you ae that rich, then an 18k per year gift to your kids isn't going to make a difference in the grand scheme of things. MYOB. You are obsessing and acting pretty disgusting.

It’s the waste of it! We are going to get the money when they die either way. Why pay multiple millions in estate tax if you don’t have to? I’m not saying they give us “all” the money early, just enough to avoid the tax. This is so out of character for them considering all the other things they do to minimize taxes. They are so resentful of paying the Medicare supplement, etc. But they are willing to give Uncle Sam all this money they don’t have to?

If they have that much money, they surely have an advisor. They will tell them to make adjustments IF the law changes, and if trump wins, it will probably expire.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The daughter-in-law nightmares are made of. MYOB.

No statement has ever been more truthful. We, okay me, are leaving nothing to our son because of his greedy rude wife.
She won't find out until we pass but I'd love to see the look on her face when she does find out. She's a mean girl that sees herself as a Princess. And a know it all as far as parenting goes. She has that only child syndrome. Her mother needs to make sure she's taken care of. I won't. My son goes along with her because he's afraid she'll divorce him. So he can deal with the fallout.

I get no joy saying the above but this girl should not be rewarded for disrespecting us. She has no manners. AT ALL.

You certainly sound joyful in spelling this out. And that says a lot about you. You're punishing your son, not your DIL. But in any event, extremely petty and vengeful (and I bet you 100% you have contributed to this dynamic, given the nasty tone of your post. I'd be my life on it).

[Anonymous]

I thought we wanted the rich to pay their fair share. What do you want OP? For the rich to not pay up? Are you that greedy?

[Anonymous]

Let’s be thankful they want to pay taxes rather than give it to a greedy DIL.

[Anonymous]

Anonymous wrote:I thought we wanted the rich to pay their fair share. What do you want OP? For the rich to not pay up? Are you that greedy?

The rich pay plenty. Leaving that aside, estate taxes are absurd because it’s money that was already taxed. People should be able to do what they want with it, tax free.

[Anonymous]

You say you don't need the money, so why are you so upset?

[Anonymous]

The federal estate limit is 13.1 million per individual, so 26.2 million is excluded from federal estate taxes. Do they have an estate worth more than that?

[Anonymous]

PP meant to say if they are married 26.2 is excluded

[Anonymous]

Anonymous wrote:We have an early frontrunner for "DCUM's Greediest Wanker" Award! Not even May and this one just bolts out of the gate! Well Done!

[Anonymous]

Anonymous wrote:

Anonymous wrote:I thought we wanted the rich to pay their fair share. What do you want OP? For the rich to not pay up? Are you that greedy?

The rich pay plenty. Leaving that aside, estate taxes are absurd because it’s money that was already taxed. People should be able to do what they want with it, tax free.

I heartily agree with this, having money to pass on to my kids. However, democracies also believe they have a mandate to equalize future generations as much as possible, and I also understand and nod in the direction of that concept. Unequal societies become less democratic over time.