The estate tax, often described by Republicans as the "death tax," is levied only on the very rich, passing on assets of more than $5.5 million for individuals and $11 million for married couples.
This allows couples to pass on assets of £650,000 without paying tax: they will barely feel the allowance freeze.
We were the second fastest firm in our industry to pass $1B of assets, was managing more than $2B of capital, and investors were clamoring to get in.
Heterosexual married couples have long enjoyed the privilege of passing retirement assets and property to a spouse upon their death, tax free.
Passing assets outside of probate keeps them private, avoids will contests — for instance, when blood relatives are hostile toward a domestic partner or new spouse — and simplifies planning for elderly people with just one child they wish to benefit.
This equity inequity is partly the result of the head start whites enjoy in accumulating and passing on assets.
Another way to cut costs is to limit the value of assets passing under the will, Mr. Gassman noted.
This may, depending on the net worth of the clients and their situation, significantly reduce the amount of assets passing to the remainder beneficiaries.
As of 2013, American retirees were ranked the sixth most generous in the world in terms of amount of assets passed to family members, according to a survey by HSBC, the global British bank.
Today's Financial Times has the story:It is normal for a decade to pass between when an asset of someone charged with being part of an organised crime group is confiscated and the final court verdict that passes the assets definitively to the state.
