Asked 8/26/2010
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If the death tax is Reinstated, willhave the funds and assests in a Trust protect it form the 45-55% tax rate on inherited money and property? |
Answer 1/1 - Submitted 1/17/2011
There has never been a tax on death, or a "death tax".
However there have been estate taxes. Perhaps you've had a hard time finding legitimate information because you've been confused by news reporting rhetoric?
Legislation passed that made estate tax rates for 2011 & 2012 have a maximum rate of 35%, and $5,000,000 is exempt.
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