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They left no estate.
But what if there is no estate tax?
In a year when there is no estate tax, there is no residue.
If no estate tax is imposed, capital gains taxes can be avoided indefinitely.
"No estate in United America," he assured an English correspondent, "is more pleasantly situated than this".
In 98percentt of American deaths, there is no estate tax liability.
Next year, the law calls for there to be no estate tax at all.
"The good news," the lawyer said, "is that if you inherit less than seventy-five thousand there's no estate tax".
If the life insurance proceeds are payable to the surviving spouse, there is no estate tax liability.
"Can you imagine if there is no estate tax and all this wealth is tied up in perpetuity?" he said.
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In addition, if Congress reinstates the estate tax retroactively, some heirs of those who die during the no-estate tax time period are likely to put up a fight instead of paying big bucks in estate tax.
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CEO of Professional Science Editing for Scientists @ prosciediting.com