Tax experts slam Biden's mess of a 'double death' tax

My parent put three homes and their IRAs and other investments into a revocable trust. We put out home and investments in a revocable trust for our kids, too. It’s our property
"While revocable trusts are transparent from a tax perspective and have essentially no benefits when it comes to avoiding inheritance tax, irrevocable trusts can be used to eliminate estate taxes."

https://finance.zacks.com/long-must-trust-place-avoid-inheritance-tax-11396.html

There are always ways around these tax laws. Do some research and find the exceptions that the reps and senators built into the law. They always include a well hidden escape clause for themselves and their families.

Think Clinton Foundation.

Another option is the family limited partnership.

https://www.medicaidplanningassistance.org/lady-bird-deeds/

Snip...Lady Bird Deed vs. Traditional Life Estate Deed

With both lady bird deeds and traditional life estate deeds, the owner of the property, the life estate holder, also called the grantor or life tenant, maintains possession of his / her home as long as he / she is alive. Upon the death of the homeowner, the life estate ends, and the home is automatically transferred to the beneficiary, also called the grantee, remainderman, or the remainder beneficiary. With a standard life estate deed, the life tenant (the homeowner) no longer has full control over his or her home. For example, the life tenant cannot sell or mortgage his / her home without beneficiary approval. Lady bird deeds differ from traditional life estate deeds in that the life tenant continues to have the right to sell or mortgage his / her home without beneficiary consent. In fact, the life tenant is even able to cancel the deed or change the beneficiary. Stated clearly, the beneficiary will receive the title of the home after the death of the homeowner, but he / she but has no right to the home (or decisions made in regards to the home) as long as the homeowner is alive.”

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