2012 Mega-Gift ? Tough Decision For The Moderately Wealthy
In order for a gift to stand up to IRS scrutiny and not be pulled back into your estate, you have to not have the ability or even an implicit understanding that you can get it back. Nonetheless, if you leave yourself enough to get by for say 10 years, that should not be a problem. After 10 years, you can count on your wealthy children to take care of you. Just remember this plan did not work out so well for King Lear.
Drag Racing And Horse Breeding In The Same Case – At Least They Didn’t Try Amway
Originally Published on forbes.com on April 22nd, 2012 ______________________________________ The recent tax court decision in the case of Mark and Martha Ryberg is...
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.