Questions tagged [estate-tax]

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votes
3answers
356 views

What stops someone from abusing the Annual Gift Exclusion Amount?

Let's assume this hypothetical. My son is now 18 years old. Since he was 8, I've been setting aside the annual gift exclusion amount and placing it in a safe in my house. With snipers guarding said ...
4
votes
2answers
134 views

Maximizing the Cost Basis Reset on Death

Consider the case of a married couple, living in the USA, with appreciated stocks and bonds in a living revocable trust worth between 1 and 5 million dollars. The husband then dies leaving everything ...
0
votes
1answer
159 views

Life insurance rider

My estranged spouse was listed as a rider on my life insurance policy since 1987, we have been separated since 2009 and I have paid all premiums on the policy. My sons are the beneficiaries on the ...
1
vote
0answers
26 views

How to distribute a partnership K-1 (1065) other income item (line 11B) to heirs on a K-1 (1041)

I have a partnership K-1 (1065) which shows an amount on the "other income" line (line 11B). I am distributing this to the heirs, as the designated recipient died and I am the executor of the estate. ...
3
votes
4answers
642 views

Estate taxes and the top 1 percent by net worth

According to this website, you need to have over 10 million dollars for your family to be in the top 1 percent by net worth. However, only about .2 % of estates pay estate tax. The cut off for the ...