PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: DuckTapeSunroof who wrote (699887)	9/5/2005 11:35:30 PM
From: Peter Dierks	Read Replies (1) of 769670

Re: "I have seen the sale of many family businesses for estate purposes." Never heard of a trust? Yes. I am familiar with dozens fo tricky ways to outsmart the death tax. You can form a partnership with you kids and grand them limited partnerships with the majority of the value while keeping the general partnership yourself. You can use generation skipping trusts (only if you are careful). You can set up a charitable trust. There are many more ways to use trust law to outflank parts of the tax law. Again, these are just artificial structures to avoid the immoral death tax. An elderly man I respect just announced he was going to have to kill himself in 2010 to avoid the resumption of the death tax. He was not joking. (I hope he was not fully serious.) No taxation without respiration! "Many families have been forced to sell their land or shutter the family business just to pay the death tax, which can seize up to half of a dead person's assets." "economist William Beach estimates that the federal estate tax alone costs the U.S. between 170,000 and 250,000 potential jobs each year. These jobs never materialize because the investments that would have created them aren't made." theconservativevoice.com

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