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The estate tax.
Is that often debated issue in president Obama's tax you we know that bought regardless of what ends up passing is -- any way around the pave the death.
Family law attorney general let me see is was an opinion on a state tax is not just sport so -- -- welcome on the program there because let's get let's do this.
-- I've got a hundred million dollars.
If I don't when -- die.
I don't have to pay estate -- -- -- that would with prop up playing you do if you start planning now and you live long enough of that plan to be executed.
You can avoid a good deal of taxes if I plan now and I don't die for another ten years.
I don't pay estate taxes even on a billion dollars doing well.
Probably not because you would figure out a way to start channeling money different places to start -- certain frost depending on how comfortable you are.
If you lose more active.
You -- control over an asset you can push it aside and defer the taxes now remember.
You're just deferring attack that take them -- theory doesn't like taxes because at some point.
Someone's gonna have to -- some of those taxes but thought you could do an act like exact people who are at the very high and are not really being impacted by this.
-- discussion it's the middle and it's that.
Less than statistic.
-- -- -- Okay now supposing you have a small business and a small businesses valued -- say ten million dollars -- you got a family phone ten million dollars.
Avoiding the estate tax is much more difficult is it well it's not just avoiding estate tax for those two categories it's also being Hamilton and organize the payment -- the taxes which.
Hasn't been regulated to allow for some softening but again it requires planning it requires professionals and you know -- here again talking about the ten million dollar business if you have ten million dollar business do you think of yourself.
As rich enough to go get advice to do planning went the prince you have a -- -- I said yeah about.
Is the honorable as two trucks on the road and a house that's fully paid workers over the course of his life.
He's bought his home in northern New Jersey -- and those -- the people who don't -- the advice but don't get what hesitant to plan and getting up though.
-- got this big debate over a state taxes should they go -- to be reimposed the my point is the more money you've got the -- ball and for the estate tax payment becomes -- you -- -- way out of it.
You can end but -- did gain -- about what level of wealth is considered dangerous remember and that's what started the whole state taxes this concept that there's a a certain level of well.
That is dangerously.
In one family.
Indirect tax because you are paying.
In the divided you -- you like our guest who would move in a dozen of the money to get yourself out of paying the estate tapped it.
Let's ask the key question judgments.
If I've got a hundred million dollars and I come to you for a plan a ten year plan get me out of this estate tax and the future now.
You would probably spend just for the beginning of the discussion 100000 dollars and you'd have to go back and retrofitted every single year especially when you're talking that these -- your plans for this not reliability.
And -- -- the other part you would have to also did not control.
You think this isn't it department went talked about it for effective tax avoidance you have to basically.
Did not control of your -- -- talk a little -- don't wanna -- Even this is what am I -- A part of it but they don't have my problem you know thirty dollars and a metro card right so leasing the worst problems I didn't look -- -- -- -- -- -- -- -- -- -- -- Establishing trust that the money comes out of your state and you relinquish ownership so to speak but I need someone to care for those stress you indirectly paying.
Lots of money to avoid paying in state tax.
Did you love it that if you business depends on it right -- because you know I had to get -- and people don't wanna keep paying the same service over and over again to that doesn't feel good will from my business so if I'm a long term business on which I am.
I want something that I can give is a good product that people feel good paying more.
Very good to have such -- -- -- that was really diplomat ethical accurately today and -- John Cummins -- example.
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