Reply to If your parent recently died (estate planning)

Forum Index » Money and Finances

Reply to "If your parent recently died (estate planning)"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]A lawyer is familiar with federal and state tax law pertaining to inheritance and can help plan the estate to avoid losing 40% in taxes. A lawyer can also help put things in a trust in order to avoid probate.[/quote]

What percentage of families do you think are subject to estate taxes?  Brookings estimated it was 4000 people in 2023 FOR THE ENTIRE COUNTRY.

https://taxpolicycenter.org/briefing-book/how-many-people-pay-estate-tax

That's federal, yeah in some states you might get hit if you have less than $15 million, [b]but the only state in the region with an estate tax is Maryland [/b]and that only starts at $5 million, and the marginal rates start at 0.8%.

The vast, vast majority of people do not have to worry about estate taxes.[/quote]
DC and Pennsylvania have estate taxes. [/quote]

Absolutely right, I looked at a bad map that didn't properly call out DC. And it only kicks in over $5 million. That I should have such problems.[/quote]

You might not, but most people I know who live in DC run into problems because $5 million is very low for an entire estate.[/quote]

What a world to live in that MOST people you know have $5 million+ estates.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics