Monday, January 4, 2010
This could be your lucky year... with an asterisk*
Here in the U.S. on January 1, the estate tax, which has to be paid at death (so why am I worried about it?), has expired (er, excuse the word... been suspended) for one year. If you are/were rich enough (again, why am I worried), and died before the new year arrived, Uncle Sam could take as much as one-half of your estate's value. So as the new year approached, some families were playing God/Midas... "Do we keep Uncle Otto's respirator going until the stroke of midnight or do we pull the plug?"
Actually, that was possibly true in very few cases, and possibly only humorous if you are not Uncle Otto or his family. (In this blog, gallows humor is allowed... "Is that the best noose you can tie, you pathetic excuse for a hangman? I'd worry about you if I was your mommmmmm.... SNAP...argggh... swing.")
Anyhow, I have guaranteed that I will not die before my money runs out. I just shorten the death date guestimate on my financial plan to match my remaining dollars. See... it's win-win.