Refering to my previous subject "Estate tax and inheritance tax", with all my online research and double confirm from one of the answerers. If my father's total net asset is less than 1 million (With the tax exempt limit of 2 million as per 2006), there is NO Estate tax and Inheritance tax. then here's my another question:
I know that some peoples are giving gift US12k per year to each of their hiers free of gift tax. We were thinking of doing that as well, but with what i discover from my previous question, if all the inheritance from my dad is going to be both estate and inheritance tax free, then what is the point of using the gift strategy? Or am i right that the gift strategy is only needed by those who has more than 2 millions asset?
2006-11-01
04:38:04
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5 answers
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asked by
bibi
1