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“The Hidden Ways the Ultrarich Pass Wealth to Their Heirs Tax-Free”

“…Officially, gifts are taxable: If you send someone more than $15,000 per year, you’re supposed to file a separate gift tax return, with the total counting toward your $11.7 million lifetime estate-and-gift-tax exemption. (Double that for married couples.) Once you reach that threshold, you must pay a 40% levy. But giving heirs the right to profit, risk-free, from your investments? Not a taxable gift if you route it through a GRAT. “It looks like the heirs didn’t receive anything of value, but in fact they have been given all of the upside growth potential,” says Ray Madoff, a law professor at Boston College.”

https://www.bloomberg.com/features/how-billionaires-pass-wealth-to-heirs-tax-free-2021/

inheritance shouldn’t be taxed in the first place. It’s stealing. The owner was taxed to begin with.

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