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December 28, 2012

Tomb Boom!

Will 'Fiscal Cliff' Accelerate Millionaire Deaths?

If the life of an elderly wealthy family member extends into 2013, the tax bills will be substantially higher. An estate that could bequest $3 million this year will leave just $1.9 million after taxes next year. Shifting a death from January to December could produce $1.1 million in tax savings.
[Hide, Granny, hide!]

Posted by gerardvanderleun at December 28, 2012 9:09 AM. This is an entry on the sideblog of American Digest: Check it out.

Your Say

So you think that is what Bush senior is trying for?

Posted by: Potsie at December 28, 2012 9:59 AM

This is not totally true. Gifts of up to $5 million can be made before the end of the year. Although you might have to be put on a respirator for three years.

Posted by: Fat Man at December 28, 2012 12:33 PM

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