Inheritance Issues

From 1941 to 1976, for $10 million and more, the top federal estate tax rate was 77%. $10 million in 1941 would equal $153,897,959.18 today. $10 million in 1976 would equal $39,759,226.71 today. Referring to new federal estate tax legislation (1916), Supreme Court…

Debating the Inheritance Tax

Death usually means some money for Uncle Sam and the rest for the real relatives (and unrelated heirs). As a result, when John D. Rockefeller died in 1937, his heirs received 30% of his fortune and the U.S. government got…

J.D. Salinger and the Estate Tax

Reading J.D. Salinger’s obituary, I thought about the estate tax and then beyond to a Mark Helprin interview last June. Have you wondered, with the 2010 suspension of the estate tax (called by some the “Throw Momma From the Train…