Government theft. That is why you should begin transferring wealth to your loved ones and dependents while you are alive. (Notice I said loved ones; because the unloved ones will haggle over your estate.) Offer to pay for dinners, for groceries, furniture, vacations and trips. Help pay for their cars and maintenance. Buy them nice presents for birthdays and Christmas. In other words, give some of your wealth while you are alive, it is legal and tax free (well, up to about $26G for a couple giving to each person per year). Have them build a nest egg of their own from your gifts.
I would much rather give to family than have the government steal it all. I have a trust, but know the government wants to take half of it when me and my wife die. Keep some of your wealth off the books in goods, and inform your adult children of how to find the goods.
Oops, amount went up to $28 thousand for a couple giving cash to each person per year tax free, up to $56 thousand for a couple giving to a couple. Looks like I need to give more to my adult kids.
The number one thing you should do, is have a will.
Some states become owner if you don’t.
Very bad.
Life insurance policies are a good way to gift to the kids too, because they are non-taxable.
You have to know what you’re doing to set them up, load/no load. (money after tax or pre tax-from a TSA or the like.)
Bump for great info/artillery in the LIV war....
Find The Goods,,,,
Great Advice.