Anonymous
07/03/2025 16:50
Subject: Predicting Estate Value?
Anonymous wrote:Anonymous wrote:This type of estate will take years to go through probate. FYI.
If she has that much, she probably has it set up to pass through a trust. If so, it will be a far easier proposition than dealing with probate.
We dealt with two different estates in my family, one was set up in a trust, one was a regular will. The estate that passed through a trust was completely settled in less than six months. The one that was a regular will going through probate, with far less in value than the other, is still not settled, almost five years later. It is crazy what an executor can get away with when dealing with a will in probate.
What can an executor get away with? I currently have a will because I have a bit less than $5m (most of it is in qualified accounts with designated beneficiaries and some commercial real estate that will need to be sold and distributed), with someone I trust as an executor. It didn't seem worth it to pay for a trust. Am I wrong?
Anonymous
07/03/2025 16:35
Subject: Predicting Estate Value?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Chance are good that she’ll be over $14 million and you could be setting aside some money for paying estate taxes prior to distributing. Expect about $3 million.
I think the Big Bill eliminates estate taxes.
No it does not. It just makes the $15M/person with adjustments for inflation permanent. It was set to expire and return to ~$5.5M on Dec 31, 2025 based on the 2017 bill.
So it basically will make it "permanent" until a new congress changes it.
So it maintains the status wuo on estate taxes instead of increasing estate taxes?
Why would anyone object to that?
Because it is a source of income to help with the massive debt we have. However, it's a small source. More good would come from putting the tax brackets back to pre 2017 levels. As most people worth $15M+ (or $30M+ as a couple) are smart enough to legally avoid estate taxes, and quite frankly there are not that many worth that much.
Anonymous
07/03/2025 16:32
Subject: Predicting Estate Value?
Anonymous wrote:Anonymous wrote:Anonymous wrote:wasn’t it already over that?Anonymous wrote:Anonymous wrote:Anonymous wrote:Chance are good that she’ll be over $14 million and you could be setting aside some money for paying estate taxes prior to distributing. Expect about $3 million.
I think the Big Bill eliminates estate taxes.
No, it just makes the threshold higher. I think $15m
No, a little under, which is still ridiculous. Inherited wealth is the opposite of meritocracy (and I say that as someone who will likely inherit some wealth)
Yes, but the problem is it’s not always a pile of money. It’s a business or other illiquid assets.
if it's a business, there are easy ways to protect everyone and avoid estate taxes.
Anonymous
07/03/2025 16:31
Subject: Predicting Estate Value?
Anonymous wrote:Anonymous wrote:I'd be truly surprised that she's spending that much per month, even in an expensive care place with 24x7 help. What is she doing with that much each month?
She is in independent living. Paid cash for the buy-in, and I think the monthly is around 5k. She does get a pension of some sort and social security. Her husband was a 30 year Boeing employee who started there in 1960, which we believe is the source of much of the initial money that has been reinvested. I believe she is reinvesting the pay-outs in non-tax deferred accounts, but we do not really know. She says her financial planner and CPA handle it all. She does not spend much money, never has.
So she is not really getting and using $45K/month. Once you are in a facility, even a high end CCRC/great care in Nursing Care or Memory care will only run you $15K, maybe a bit more. Add in a private nurse for 8 hours daily and you might be at $20K.
Anonymous
07/03/2025 16:29
Subject: Predicting Estate Value?
Anonymous wrote:wasn’t it already over that?Anonymous wrote:Anonymous wrote:Anonymous wrote:Chance are good that she’ll be over $14 million and you could be setting aside some money for paying estate taxes prior to distributing. Expect about $3 million.
I think the Big Bill eliminates estate taxes.
No, it just makes the threshold higher. I think $15m
It's currently at $13.9M until the bill is signed. and it was scheduled to reset to ~$5.5M on Jan 1, 2026 if congress didn't do something.
Anonymous
07/03/2025 10:55
Subject: Predicting Estate Value?
Anonymous wrote:Anonymous wrote:Wait—you said $45K per MONTH? She’s loaded.
Yes, we suspect this is the case, but you would never know by the way she lives her life.
So what is she spending that $45K/month on?
Anonymous
07/03/2025 10:54
Subject: Predicting Estate Value?
Anonymous wrote:Anonymous wrote:Hard to tell but usually one draws 4% on assets so if she’s drawing $45K a year she prolly has a bit over $1M. I would ballpark your 1/5 inheritance at $200K.
She draws $45k a month - so $540k a year.
And you can get to that with about $16-18M in MM/CDs currently and not draw on principle. So it really depends if she's taking principle or not. But it's very likely she's worth 10-15M+
Anonymous
07/03/2025 10:35
Subject: Predicting Estate Value?
Anonymous wrote:Anonymous wrote:Anonymous wrote:wasn’t it already over that?Anonymous wrote:Anonymous wrote:Anonymous wrote:Chance are good that she’ll be over $14 million and you could be setting aside some money for paying estate taxes prior to distributing. Expect about $3 million.
I think the Big Bill eliminates estate taxes.
No, it just makes the threshold higher. I think $15m
No, a little under, which is still ridiculous. Inherited wealth is the opposite of meritocracy (and I say that as someone who will likely inherit some wealth)
Yes, but the problem is it’s not always a pile of money. It’s a business or other illiquid assets.
If someone has $10m of $5m in a business or illiquid assets, they can make provisions for the taxes. If they don't, that's their fault. There is no rational reason to based US tax policy on those extremely wealthy who can't be bothered to properly structure their assets. It's rewarding people for bring idiots. In that way, it's a lot like the GOP primaries . . . but that's another conversation.
Anonymous
07/03/2025 10:29
Subject: Predicting Estate Value?
Planning for the old lady's death and what you might get is sad. Really, really sad.
Anonymous
07/03/2025 10:22
Subject: Predicting Estate Value?
OP, you wishing to know means nothing, changes ~ let it go. Let that thought go.
Anonymous
07/03/2025 10:20
Subject: Predicting Estate Value?
Anonymous wrote:Anonymous wrote:wasn’t it already over that?Anonymous wrote:Anonymous wrote:Anonymous wrote:Chance are good that she’ll be over $14 million and you could be setting aside some money for paying estate taxes prior to distributing. Expect about $3 million.
I think the Big Bill eliminates estate taxes.
No, it just makes the threshold higher. I think $15m
No, a little under, which is still ridiculous. Inherited wealth is the opposite of meritocracy (and I say that as someone who will likely inherit some wealth)
Yes, but the problem is it’s not always a pile of money. It’s a business or other illiquid assets.
Anonymous
07/03/2025 09:40
Subject: Predicting Estate Value?
Anonymous wrote:I'd be truly surprised that she's spending that much per month, even in an expensive care place with 24x7 help. What is she doing with that much each month?
She is in independent living. Paid cash for the buy-in, and I think the monthly is around 5k. She does get a pension of some sort and social security. Her husband was a 30 year Boeing employee who started there in 1960, which we believe is the source of much of the initial money that has been reinvested. I believe she is reinvesting the pay-outs in non-tax deferred accounts, but we do not really know. She says her financial planner and CPA handle it all. She does not spend much money, never has.
Anonymous
07/03/2025 07:33
Subject: Predicting Estate Value?
I'd be truly surprised that she's spending that much per month, even in an expensive care place with 24x7 help. What is she doing with that much each month?
Anonymous
07/03/2025 07:29
Subject: Predicting Estate Value?
Anonymous wrote:wasn’t it already over that?Anonymous wrote:Anonymous wrote:Anonymous wrote:Chance are good that she’ll be over $14 million and you could be setting aside some money for paying estate taxes prior to distributing. Expect about $3 million.
I think the Big Bill eliminates estate taxes.
No, it just makes the threshold higher. I think $15m
No, a little under, which is still ridiculous. Inherited wealth is the opposite of meritocracy (and I say that as someone who will likely inherit some wealth)
Anonymous
07/03/2025 07:06
Subject: Predicting Estate Value?
wasn’t it already over that?Anonymous wrote:Anonymous wrote:Anonymous wrote:Chance are good that she’ll be over $14 million and you could be setting aside some money for paying estate taxes prior to distributing. Expect about $3 million.
I think the Big Bill eliminates estate taxes.
No, it just makes the threshold higher. I think $15m