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Mr. Van Hollen, who was also involved in those tax talks, marveled at Mr. Kyl's triumph, a temporary compromise on the estate tax that left estates of up to $5 million per individual or $10 million for married couples untaxed, with the value of estates above that taxed at 35 percent.
Interestingly enough, real estate, despite placing third on the list, isn't nearly as big a part of the superrich portfolio as it is for the "merely rich," those who left estates valued between $1.5 million and $20 million.
Similar(58)
The government's stamp duty changes have left estate agents in Manchester with a festive spring in their step.
In fact, less than 2percentt of Americans who die leave estates subject to the tax.
Ninety-eight per cent of Americans do not leave estates large enough for the tax to kick in.
For the superrich, those leaving estates of $20 million or more, the average tax rate fell to 16.5percentt from 18.4percentt.
And the biggest offenders are those with the most to lose -- some heirs of the very rich, who leave estates of at least $20 million, the I.R.S. has found.
He was five years old when his father died, leaving estates that had been ruined by inflation and mismanagement during the Wars of Religion (1562 98), and he was conscious from his earliest years of the threat of penury.
Landlords generally resided in cities and left their estates in the care of farm managers.
While Mrs. Geisel was left with estate heaven, the executor of the Curious George estate was dealing with hell.
If someone left his estate in a state QTIP trust, the surviving spouse would not have to pay estate taxes on it when she died.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com