On Sun, 22 Oct 2017 11:32:28 -0400, Keyser Soze
wrote:



How's that proposed elimination of the estate tax gonna work out for the
rich?

If someone is really rich, it does not really affect them much at all.
Most of the money is in trusts. As you know from your silencer, one of
the trustees may die but the trust goes on. You can just keep adding
people to the trust and there is never a transfer of the property to
be taxed.
The other way regular people can protect assets from the tax man is to
hold it jointly. You just have to trust your kids not to rob you
before you die. When my mother died, there was no will, no probate or
even exposure to taxes (although we were far below the threshold)
simply because I signed on all of her accounts as equal joint account
holder. My only question was even to tell the bank that she was dead.
All I really needed to do, (to keep the IRS happy) was to change the
tax ID number to mine. Since I was on the account, it was a five
minute trip to the bank.
This is typically the way husband and wife hold assets and there is no
legal reason why that can't include kids or even 3d parties.