Tag Archive for: death tax

We’ve all heard about the estate tax, aka the death tax, which is a tax that the federal government levies when assets are transferred from a deceased person to someone else. So how does the super-rich work within the law to protect their family assets?

To be clear, the U.S. tax code is written so if the assets are transferred to a spouse or a charitable organization there is no tax. Also, there are credits against the tax that ensure assets up to $2 million dollars that are transferred to children, as an example, are not taxed. Read more