Retirement - Now what? Message Board

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Strategies & Market Trends : Retirement - Now what?

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To: Drygulch Dan who wrote (122)	5/11/2005 12:06:03 AM
From: Nazbuster	Read Replies (1) of 288

re: The only difference is the slightly lower cap gain rate compared with estate tax rate. Cap gain 15%, Estate 50%. The auditor passes by the building every day and "knows" apartments are worth more than the appraisal. In general, she's right, but there were many issues with my aunt's apartment that resulted in the low appraisal. They were all detailed in the writeup. Because of the higher sale and the auditor's opinion, they want to reset the value to the sale value. (This is, of course, 2 1/2 years later after huge appreciation in the market to skew her perception.) The exemption at the date of my aunt's death was $1m. The estate was worth about $2.7m, so taxes were paid on $1.7m. OUCH. That 2 1/2 months would have been worth $500k.

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