The superwealthy are supporting higher taxes next year, so consider reducing your estate now.
If he’s trying to win points with the in-laws, this is definitely one way for Prince William to do it.
For another year, the gift tax rate favors wealthy taxpayers who want to reduce their estate and at the same time make a financial gift. For the remainder of 2011 and through 2012, individuals can give up to $13,000 to as many recipients as they’d like without owing gift taxes. Unlimited financial gifts can be
Just because the rich and famous can afford the best legal representation for their estate, doesn’t mean they don’t make mistakes — sometimes enormous errors that not only greatly diminish the value of their assets through legal fees, but tarnish the image of the family whose founder worked so hard to earn the fortune. Too
What a great time to be the offspring of the super-rich. A combination of favorable gift tax legislation and low interest rates is causing the wealthy to consider transferring money and assets to the next generation while the giving is good. Since Congress increased the exemption for federal gift tax to $5 million ($10 million
It didn’t take long for the billionaires to start dying this year, leaving the U.S. Treasury mourning millions in lost estate taxes, and many happy heirs. On March 28, Texas gas pipeline billionaire Dan Duncan, the 74th richest person in the world, died. Under the estate tax of 2009, he would have owed up to