MarketWatch reports that only 5,219 households actually pay the federal estate tax. It’s article begins as follows:
President Trump’s family may have had a very complicated way of processing estate taxes over the years. But very few families actually are taxed on their estates.
The state of New York on Tuesday launched an investigation into President Donald Trump following a New York Times report alleging that he and his family set up a web of fraudulent financial schemes to transfer money from one generation to the next. Trump was given at least $413 million in today’s dollars from his father Fred’s vast real estate empire. (Through his lawyer Charles Harder, President Trump denied the report and said the president had virtually no involvement.)
But how many people actually pay the federal estate tax? Only 5,219 households.
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.