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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I  paid $8 M in federal estate taxes last year. [/quote]

There are all kinds of trusts and other strategies to avoid this.  Seems like it would have been worth it for your parents to have spent say $200k to set this up, considering based on the amount of tax paid the estate was probably like $50MM[/quote]

It’s not as easy as it looks to avoid all taxes.  It’s easy to go over the $14 million dollar lifetime gift exemption if you’re in the 1%. Even with 8 different trusts that are used for 8 different reasons it’s tough to avoid some estate tax.  Unless you’re a billionaire. [/quote]

Some of us live in states with a high state estate tax as well, so when majority of our estate would be taxed at 30-40% (yes that high at the state level), we will do everything in our power to ensure we use trust and any legal method possible to avoid that.  
We are not billionaires, we earned our wealth all on our own (no family help) but we plan to ensure future generations are well taken care of and we don't need to pay more taxes on it to the fed and state govt.

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