Having just been through the process, I found the attorney fees to be very reasonable.
It can only follow that you must have a hand in one of those cookie jars.
Nope, in that area I am strictly a consumer wise enough to know when I can benefit from competent, professional advice.
"How can Americans do estate planning when they don't even know what the inheritance tax will be in five years?"
Wouldn't the same apply to stocks and bonds? Do you know where the market will be in 5 years?
Inheritance tax certainly isn't the only expense or issue addressed in estate planing. In fact, inheritance tax isn't an issue for most people.
Having been through the process numerous times with numerous clients I know that the process is VERY expensive. There aren't too many ways to do it and all of them either require setting up expensive trusts, partnerships or buying very expensive life insurance late in life. Unless you give it all away before you die. There is NOTHING more expensive than that.
My question for you is, why do we even have to answer to the tax man for a lifetime of work? Why do we have to give that money to the government instead of our children and grandchildren? You and I both know the answer to that: generational wealth is a curse to socialism.
Wouldn't the same apply to stocks and bonds? Do you know where the market will be in 5 years?
That is something we have no control over. We have control over our own government. At least we used to before the income tax and the New Deal.
Inheritance tax certainly isn't the only expense or issue addressed in estate planing. In fact, inheritance tax isn't an issue for most people.
Neither is income tax, that's why I want the FairTax.