2006-10-26 04:19:42 · 4 answers · asked by crazywithdiesel 1 in Business & Finance ➔ Other - Business & Finance
After the fact - NADA... nothing you can do
Before the fact, go ahead & direct the assets at the rate of $10,000 per year (below the taxation gift rate in the US) PRIOR to death, set up trusts to dispurse amounts at or less than the gift per year rate, etc.. have large amounts of life insurance so that payout of insurance death benefit is direct to the perons or to the trust
2006-10-26 04:29:43 · answer #1 · answered by Bama 5 · 0⤊ 0⤋
Give away everything less than the estate tax limit before you die. Avail yourself of gift tax exemptions during life. Use the maximum marital deduction if you are married. Give money to charity. There are many variations on these themes, but these are the general ideas. The estate tax limitation is rather high and ithe estate tax ("death tax") is supposed to be eliminated in the future, but this is always a political question in Congress.
2006-10-26 04:22:50 · answer #2 · answered by DLeibowitz 5 · 0⤊ 0⤋
distribute the funds before they die and take out a life insurance policy to cover the tax liability.
2006-10-26 04:22:05 · answer #3 · answered by M S 4 · 0⤊ 0⤋
Die and pass it onto your heirs.
2006-10-26 04:20:25 · answer #4 · answered by kc_warpaint 5 · 0⤊ 0⤋