The Justa & Lars Honors Bob Brinker Investment Club Message Board

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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club

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To: Sam who wrote (15079)	7/17/2000 2:13:30 PM
From: Chris J. Horne	Read Replies (1) of 15132

"This whole campaign against the tax is an amazing case study in wishful thinking" Sam, In spite of what I wrote, I do not think it is proper for the government to confiscate people's wealth in this manner. I do believe that the estate tax regulations will be further revised to make them less onerous. If Bush wins the election, I would say this is virtually a certainty. Estate does lead to breaking up family businesses / farms to pay the tax, if the owner does not think ahead and cover the tax in advance with life insurance. However, I do also believe that the research in the "Millionaire Next Door" is valid, and that this often (not always) has a negative effect on the lifestyle of a young adult who receives a large inheritance or even is aware of one pending. As far as life insurance avoiding the estate tax, it is like any other asset in it depends on who is the owner of record...and most people pay no attention to this. You want your surviving spouse or your children to be listed as the owner...not you! Then the proceeds do not count as part of your estate. Chris

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