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by skybrian
2789 days ago
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It's about inheritance taxes. Without a limit, an easy loophole would be that a parent could give all their money to their kids before they die and avoid inheritance tax entirely. (Instead, they need a more complicated loophole using a trust.) But federal inheritance tax doesn't kick in until you leave over 11 million to an individual, and many states don't have an inheritance tax, so most people won't need to worry about this. (Not legal advice, states differ, etc.) |
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