Would You Choose More Money or Less Hours?

[Fife]

The Hash plan has an exemption on gifts of some large amount ($1 million) per person but unlimited total, so all the money could be gifted. Direct heirs could get more. Marital deduction is a can of worms.

How are the permitted recipients of lifetime gifts to be defined (as permitted and exempt)?

[Okeefenokee]

That's exactly what it is. Childish envy.

That person has more than me, and that's not fair. My daddy didn't get to be rich, it's so unfair. Someone should take their inheritance. Then it will be fair.

Buncha whining babies.

[Martin Hash]

You know, it's incredibly ironic that you're using that argument against the richest person on this forum, and I have heirs I could be establishing a dynasty for. Inheritance Tax is a matter of math.

"You can fool me but you can't fool math." - me

[Fife]

How are the permitted recipients of lifetime gifts to be defined (as permitted and exempt)?

[Martin Hash]

How are the permitted recipients of lifetime gifts to be defined (as permitted and exempt)?

Anybody. I suspect, after taking care of their heirs, many people will bequeath to "all members of my 2nd Grade class," "all students at MIT," "all the people in my church," or "drop the money from a helicopter." (That last is a famous Milton Friedman quote.)

[Fife]

How are the permitted recipients of lifetime gifts to be defined (as permitted and exempt)?

Anybody. I suspect, after taking care of their heirs, many people will bequeath to "all members of my 2nd Grade class," "all students at MIT," "all the people in my church," or "drop the money from a helicopter." (That last is a famous Milton Friedman quote.)

If my children (and "anybody") are in the exempt class from your tax, then what does your tax even mean?

[Martin Hash]

I'm must not understand what you're asking? $Billion makes 1000 millionaires, not 1 millionaire 1000 times.

p.s. The idea is to redistribute wealth to the people who can carry the ball.

[Fife]

I'm must not understand what you're asking? $Billion makes 1000 millionaires, not 1 millionaire 1000 times.

LOL, I'd say that's right.

I'm asking about your proposal in order to understand it.

Tell me, in layman's terms, how you would defeat people leaving their property to their children.

[Martin Hash]

Right now, when I file the yearly LLC reports, I have to say if there is property & if the Manager has changed, for tax purposes. Keep doing that.

[Martin Hash]

Leaving my hotspot here in Cambodia. Going dark.