Have you ever paid inheritance tax?
No, thankfully, I haven't inherited anything yet. My parents want to leave me their second house (the Llama Ranch that they're living in now...my sister lives in their first house), but I told them to give it all to my sister and let her worry about it...I don't need the money. They also want to leave sonething for their grandkids' college fund, but I've got that covered, and they're gonna be alive when the kids go through anyway.
No, I’ll never inherit that kind of money.
You mean grave robbing tax? No I’ve never had to pay that
When my brother died I had to pay Fed and state tax on his IRS.
My son will have to pay.
You should consider opening a foundation. 😂
Ron’s, really? You have an estate worth more than $3,000,000? IRS exempts the 1st $3 million, then the poor recipient has to pay taxes on it! Congratulations on amassing this fortune! You done good!
I thought it was 6 million. But NJ is different.
They will tax the hell out of you.
Anyway I talked about my brother. I was executor and asked he not give me anything. He gave it to the kids. He had 11 people on his will. My son got half. Pays for both son colleges and cost of living and more. The kids are the lucky ones. One school is $67k a year. If you had a decent job and a 401k you manage properly for 30 years you have to be a millionaire.