Taxes are crushing Ozzy Osbournes family

[Votto]

Ozzy Osbourne’s Family ‘In a State of Disbelief,’ Facing Financial Struggles After His Death (Exclusive)

Ozzy Osbourne‘s family is grappling with his death, as well as their finances, according to a source. “The whole family is in a state of disbelief that Ozzy is really, truly gone,” a source tells the ...

www.yahoo.com

Ozzy Osbourne‘s family is grappling with his death, as well as their finances, according to a source.

“The whole family is in a state of disbelief that Ozzy is really, truly gone,” a source tells the National Enquirer. “They’re struggling to hold it together without their leader, their patriarch.”

The source notes that Ozzy’s widow, Sharon Osbourne, is “exhausted” and is “not in the right space to handle all the particulars dealing with the estate, mentally or physically.”

The source alleges that “the inheritance tax is bleeding the estate dry” and “the debt is awful.”

At the time of his death, the Black Sabbath frontman owned two homes, a mansion in Beverly Hills, California, and an estate in Birmingham, England, which could both be heavily taxed, according to Hello!

“In the U.S., estates worth more than $14 million face federal estate tax,” estate planning attorney Gideon Alper told the publication. “In the UK, inheritance tax can hit 40 per cent once you’re above £375,000. Without airtight planning, that’s tens of millions gone before the family sees a penny.”

 

[yidnar]

Ozzy Osbourne’s Family ‘In a State of Disbelief,’ Facing Financial Struggles After His Death (Exclusive)

Ozzy Osbourne‘s family is grappling with his death, as well as their finances, according to a source. “The whole family is in a state of disbelief that Ozzy is really, truly gone,” a source tells the ...

www.yahoo.com

Ozzy Osbourne‘s family is grappling with his death, as well as their finances, according to a source.

“The whole family is in a state of disbelief that Ozzy is really, truly gone,” a source tells the National Enquirer. “They’re struggling to hold it together without their leader, their patriarch.”

The source notes that Ozzy’s widow, Sharon Osbourne, is “exhausted” and is “not in the right space to handle all the particulars dealing with the estate, mentally or physically.”

The source alleges that “the inheritance tax is bleeding the estate dry” and “the debt is awful.”

At the time of his death, the Black Sabbath frontman owned two homes, a mansion in Beverly Hills, California, and an estate in Birmingham, England, which could both be heavily taxed, according to Hello!

“In the U.S., estates worth more than $14 million face federal estate tax,” estate planning attorney Gideon Alper told the publication. “In the UK, inheritance tax can hit 40 per cent once you’re above £375,000. Without airtight planning, that’s tens of millions gone before the family sees a penny.”

Ozzy and Sharons combined net was worth is nearly 500 million dollars .. though the family may be hit with a high tax rate Sharon and the kids will still have hundreds of millions left .. be wary of stories that claim sources say ..