Don't die after this year

[Sean88gt]

I'm hoping I read it wrong, but Texas had an estate tax of 50% in 2001 of anything over $1MM? This is supposed to return under Federal Law? Something isn't adding up.

IF I weren't prepared and had to pay 55% to the gov't and 50% of what's left to the state, I would likely go smooth left.

If you can, you need to look into buying your dad out for minimal cash. Instead of him leaving it to you, he should sell it for $1. It would be a legal transaction.

[Snatch Napkin]

If you can, you need to look into buying your dad out for minimal cash. Instead of him leaving it to you, he should sell it for $1. It would be a legal transaction.

That is exactly what I proposed, but it turned into an argument over political beliefs and how our gov't would never put it's people in such a bind.

I immediately stopped the discussion and told him to walk away. The pain that flared up in my head was too intense to be able to keep my voice in a respectable tone.

I just have to formulate a plan to be in place when the time comes with minimal ass raping. Hopefully, he will begin to lose his cognitive abilities before death. It sounds harsh as fuck, but I'm determined to have a 50th year anniversary for what my Grandfather started.

[Sean88gt]

Honestly, I would only buy land that will produce for me. Ag land or rental proerty... revenue generating.

Holding land like that is just a liability with criminals behind the wheel in DC.

I completely agree, unless you own Rothschild quantities.

That is exactly what I proposed, but it turned into an argument over political beliefs and how our gov't would never put it's people in such a bind.

I immediately stopped the discussion and told him to walk away. The pain that flared up in my head was too intense to be able to keep my voice in a respectable tone.

I just have to formulate a plan to be in place when the time comes with minimal ass raping. Hopefully, he will begin to lose his cognitive abilities before death. It sounds harsh as fuck, but I'm determined to have a 50th year anniversary for what my Grandfather started.

Not only will they, but they have, and are going to do so again. Trust in government is a bad investment. Is your grandpa still alive and kicking? Maybe he can talk some sense into your old man. If not, I'd be getting accountants, attorneys, and everyone else to shake some sense into your old man.

[Whiteboy]

Its all crooked shit.

[Snatch Napkin]

I completely agree, unless you own Rothschild quantities.



Not only will they, but they have, and are going to do so again. Trust in government is a bad investment. Is your grandpa still alive and kicking? Maybe he can talk some sense into your old man. If not, I'd be getting accountants, attorneys, and everyone else to shake some sense into your old man.

He's still alive, but in a nursing home. I watched how my Dad had to juggle this exact thing when he took over all of my Grandad's assets. I watched him stress in exactly the same manner. To see him so nonchalant is .... something else, man.

My Dad is the same guy that taught me to always question the gov't, yet he's on an IV to the current kool aid. I'll always respect him, but I can't count on him to work with me here. Maybe that's his plan, which would be in line with how my upbringing has always been.

Thank goodness for my wife bringing me some jaeger. I can finally look into this without flipping out on the inside.

[Sean88gt]

He's still alive, but in a nursing home. I watched how my Dad had to juggle this exact thing when he took over all of my Grandad's assets. I watched him stress in exactly the same manner. To see him so nonchalant is .... something else, man.

My Dad is the same guy that taught me to always question the gov't, yet he's on an IV to the current kool aid. I'll always respect him, but I can't count on him to work with me here. Maybe that's his plan, which would be in line with how my upbringing has always been.

Thank goodness for my wife bringing me some jaeger. I can finally look into this without flipping out on the inside.

Take her up on the head.

[Snatch Napkin]

Take her up on the head.

She would probably request a stunt throat. You in? I need someone who isn't afraid to shed a tear without clenching teeth.

[Sean88gt]

She would probably request a stunt throat. You in? I need someone who isn't afraid to shed a tear without clenching teeth.

Rumors are Obama is your man for DL head.

[Snatch Napkin]

Rumors are Oblowme is your man for DL head.

He does have a purty mouth and some ears that beg to be pulled on.

[dblack1]

I'm slowly buying my mother out. When she dies there will be nothing left for them to tax. My grandfather did the same exact thing for my uncle. He died broke in the eyes of the tax man.

It is easy to avoid, but most people don't think about it.

Sean,
that land could have been gifted/sold over a 10 or 20 year period. My mother gifted me 3 acres last year and another three this year. I know a guy who has given his son 20 acres of timber a year since high school graduation. I think he only has 300 to go.

[Sean88gt]

I'm slowly buying my mother out. When she dies there will be nothing left for them to tax. My grandfather did the same exact thing for my uncle. He died broke in the eyes of the tax man.

It is easy to avoid, but most people don't think about it.

Sean,
that land could have been gifted/sold over a 10 or 20 year period. My mother gifted me 3 acres last year and another three this year. I know a guy who has given his son 20 acres of timber a year since high school graduation. I think he only has 300 to go.

Perhaps, but he was diagnosed with cancer in November of 1990, incapacitated by March of 91 and dead by June of 91. He really focused on accumulating it starting in ~1981ish after my grandma died.

[talisman]

Robert, you should seriously consider extricating yourself from that mess. I'd hate to see you work for years at that business only to get fucked over at the end.

[Snatch Napkin]

Robert, you should seriously consider extricating yourself from that mess. I'd hate to see you work for years at that business only to get fucked over at the end.

Pride is a real motherfucker, man. I'm not very well versed in admitting defeat.

I will say that you're advice is incredibly validated within myself, though.

[Slowhand]

Does anyone know how much trust actually shield shit from the government?

Can't shield anything for yourself, but you can shield a significant amount of assets for a surviving spouse/future children. That said, don't try and set up a trust yourself. On the list of shit to pay someone to do for you, setting up a proper series of trusts is a pretty good way to spend your money.

[Sean88gt]

Pride is a real motherfucker, man. I'm not very well versed in admitting defeat.

I will say that you're advice is very well validated within myself, though.

Pride will fuck you in the ass, leave you for dead and come back to step on your nuts. Cut that shit at the root and make the best decision for you and your family.