Margaret Thatcher’s Relatives Avoid Million Plus Inheritance Tab, Want to See How?

Palm Beach probate litigators know that inheritance tax can   add up quickly. Have you recently had a wealthy relative die intestate or without a proper estate plan to reduce taxes? Are you now looking at a 40% federal estate tax? Creativity may be able to reduce that fee. Check out what Margaret Thatcher’s family did to avoid a one million pound inheritance tax!

Inheritance Tax/Estate Tax

• The estate tax bore by the Federal government has several names depending on what political party you are a part of.
• Maybe you have heard of the estate tax perhaps the inheritance tax or maybe you have heard it called the death tax.
• Either way it is about 40% of all of your estate valued over 5.43 million in fiscal year 2015.
• If you marry and jointly file that exemption is doubled to 10.86 million.
• Keep in mind that proper estate planning can abate these harsh tax penalties.
• Experienced Palm Beach probate litigators can set up an estate plan that will limit your tax obligations through trusts and other estate planning procedures.
• So what happens when you are serving as personal representative of a West Palm Beach estate and there has been no proper estate plan?
• Chances are if the Palm Beach estate is over 10.86 million jointly or 5.43 million for an individual you are about to face  a steep tax.
• Have you heard about what former British Prime Minister Margaret Thatcher’s family did to avoid a one million Pound Sterling inheritance bill?
• Check it out, get an estate plan to avoid those tax consequences.

Thatcher’s Family Avoid £1 Inheritance Tax Bill By Donating Documents

• Margaret Thatcher’s family avoided a huge inheritance tax bill by donating her personal files to the nation.
• Do you have any national treasures sitting in your basement?
• If you are a personal representative of an estate I would start searching as this could be a huge money saver.
• The children turned down a very lucrative deal with American University and now the documents will stay in Cambridge.
• This begs the question was the deal more lucrative than the tax break they got?
• Critics voice disdain over the fact that most of her documents were already donated to the public archive in 1997 making this look a lot like a tax shelter and less an act of good will.

Want to learn more?

Check out people who praise and criticize these recent donations by checking out the full article in a British periodical just click here.