Considering my current situation with both my parents passing in the last months I've done some research and many states that had inheritance taxes have dropped them in the last decade.LOLOLOL!
Did anyone stop and figure out that when you DIE, your children have to pay an ENHERITANCE AND/OR AN ESTATE TAX? Now, not saying anything that isn't known by those of us who want to pass on as much of our acquired wealth as we can to our children, BUT Gold, and SILVER, for that matter, are relatively easy to sell for CASH when one wants to. Seems, a K-rand here, or an American Eagle there, are quite easily converted, and IF you live in a larger city where there are MANY buyers out there, you can go around and find out who pays the top dollar. You already know what an oz. of gold is worth on the commodities market, and, if you have been buying from a dealer, over time, you already know what the SPREAD is between buying and selling, (even check out prices on e-bay!), and considering what the GOV'T takes off the top, perhaps looking at gold at it currently LOW (by the last few years rate) would be a nice thing to put away a 1 oz. piece per month, just as a little GIFT that your children can open up a box and see all just sitting there!
Anything that you can do to PRESERVE for your children what should be naturally theirs, and not infringed on by the gov't is a PLUS in my book. Your thoughts?
Uummmmm, the feds don't tax inheritance at all and they don't tax the estate unless it's over a certain amount based on married and single rates. I believe it's 5 million for single and ten million for a couple then the tax rate starts at 35%.
Only 6 states impose inheritance tax and two of those states also tax the estate, Maryland and New Jersey.
And how many times have those laws changed over the last 30 years?... Especially with so many states in financial trouble and BILLIONS in the hole?
Now if some of the inheritance is tied up in investments then there is a tax if those accounts are liquidated.