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Politics : PRESIDENT GEORGE W. BUSH
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To: gao seng who wrote (50049)10/20/2000 7:40:24 PM
From: Ish  Read Replies (2) of 769667
 
<<If a person holds on to an asset until he or she dies, however, the heirs inherit the asset at its value at the time of the decedent's death. >>

In the three estates I was involved in as executor the assets were sold and the capital gains taxes were paid. Then the resualant estate was taxed before passing.

I have the original land grants from presidents Polk and Tayor granting my farm to my great, great grandfather and his heirs. Not a word about taxing his heirs to death every time a new generation owned the land.
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