With current tax law, if someone dies and leaves an estate behind, a portion of that estate over a certain amount will be taxed as income. This tax is known as the estate or “death” tax. The tax is meant to minimize, “the large tax breaks that extremely wealthy households get on their wealth as it grows,
With current tax law, if someone dies and leaves an estate behind, a portion of that estate over a certain amount will be taxed as income. This tax is known as the estate or “death” tax. The tax is meant to minimize, “the large tax breaks that extremely wealthy households get on their wealth as it grows,