SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The Residential Real Estate Crash Index
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Dan3 who wrote (99916)1/12/2008 12:07:54 PM
From: Lizzie TudorRead Replies (1) of 306849
 
I'm not defending Mozillo, I just know from personal experience that many families actually lost their *houses* not to mention their businesses a few decades ago in California when we had the estate tax. Back then, they took the total assets of a married couple and taxed the survivor on half the assets when one died, it was ridiculous.

Later I understand they excluded the primary residence from the estate up to a specified limit, but of course in CA where houses people bought for 200K are now worth 2.5mm, anything limited when it comes to property is pretty useless. Finally they excluded the primary residence completely but it was not always that way.

My family was taxed with the estate tax in the 80s so I know the pain we endured.

What is included in the Estate?
The Gross Estate of the decedent consists of an accounting of everything you own or have certain interests in at the date of death (Refer to Form 706). The fair market value of these items is used, not necessarily what you paid for them or what their values were when you acquired them. The total of all of these items is your "Gross Estate." The includible property may consist of cash and securities, real estate, insurance, trusts, annuities, business interests and other assets. Keep in mind that the Gross Estate will likely include non-probate as well as probate property.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News