Estate Tax Planning 2011 - "How To Avoid Paying Estate Tax" Part 1

[FiverBeyond]

Wow.

Firstly, the current U.S. estate tax is only 35%, not 50% (although there are movements to increase it to this level, which I would suggest are appropriate). More importantly, describing the estate tax in terms of the government tearing apart your home and belongings forms a vivid mental image, but the initial exemption of 5 MILLION dollars ensures that houses, stamp collections, cars, etc, can still be left to your children without any government interference at all.

[BSinger2100]

@FiverBeyond Thank you for your comment. The 35% rate is temporary. In 16 months the rate goes to 55% (some size estates 60%) automatically unless Congress acts. The $5,000,000 exemption is also temporary. It is not just a movement. Many of my clients have several multi-million dollar homes. Some also have many millions of dollars in collectibles. For them the temporary $5,000,000 exemption does not provide the assurance you suggest. I hope this clarifies things for you.

Brian Singer

[FiverBeyond]

@BSinger2100

Such a polite and informed response (and the added realization that I'm commenting on what is probably a video meant more for client information than for public review) outweighs any disagreements I might have with you on this issue. Thank you for your courtesy, and good luck on your business.