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GeneralDeath And Taxes Pin
C-P-User-38-Jan-20 7:34
C-P-User-38-Jan-20 7:34 
GeneralRe: Death And Taxes Pin
honey the codewitch8-Jan-20 7:41
mvahoney the codewitch8-Jan-20 7:41 
GeneralRe: Death And Taxes Pin
rjmoses9-Jan-20 4:09
professionalrjmoses9-Jan-20 4:09 
GeneralRe: Death And Taxes Pin
honey the codewitch9-Jan-20 4:12
mvahoney the codewitch9-Jan-20 4:12 
GeneralRe: Death And Taxes Pin
RickZeeland8-Jan-20 7:41
mveRickZeeland8-Jan-20 7:41 
GeneralRe: Death And Taxes Pin
Marc Clifton8-Jan-20 7:42
mvaMarc Clifton8-Jan-20 7:42 
JokeRe: Death And Taxes Pin
Daniel Pfeffer8-Jan-20 21:46
professionalDaniel Pfeffer8-Jan-20 21:46 
GeneralRe: Death And Taxes Pin
agolddog9-Jan-20 7:13
agolddog9-Jan-20 7:13 
Daniel Pfeffer wrote:
Marc Clifton wrote:
There is no exemption because of death! Roll eyes | :rolleyes:

I'm spending a year dead, for tax purposes. Big Grin | :-D

Stolen unashamedly from the Hitchhiker's Guide to the Galaxy


1) Nice steal.

2) Well, kind of, Marc (in USA at least). Your estate is liable for debts owed, including income taxes. I believe that's limited to the value of the estate, that not even the IRS can go after heirs' assets.

However, capital gains on investments are calculated from the investments' price at the decendent's date of death, not from the original purchase price. Hopefully, that's better for the heirs, and certainly a lot less hassle.

3) For those single people out there, make sure that your assets are what's called "transfer on death". This means the asset transfers to the designated person without going through the probate process. Thus, they're more immediately available, and the local government doesn't get a cut.

All of this is based on my experiences being the representative of a few estates in the midwest USA, and I am not a lawyer, so take these statements with a grain of salt.
GeneralRe: Death And Taxes Pin
Slow Eddie9-Jan-20 7:23
professionalSlow Eddie9-Jan-20 7:23 
GeneralRe: Death And Taxes Pin
PIEBALDconsult8-Jan-20 7:43
mvePIEBALDconsult8-Jan-20 7:43 
GeneralRe: Death And Taxes Pin
MarkTJohnson8-Jan-20 8:13
professionalMarkTJohnson8-Jan-20 8:13 
GeneralRe: Death And Taxes Pin
jeron18-Jan-20 8:22
jeron18-Jan-20 8:22 
GeneralRe: Death And Taxes Pin
W Balboos, GHB8-Jan-20 8:16
W Balboos, GHB8-Jan-20 8:16 
GeneralRe: Death And Taxes Pin
Maximilien8-Jan-20 9:19
Maximilien8-Jan-20 9:19 
GeneralRe: Death And Taxes Pin
theoldfool8-Jan-20 9:29
professionaltheoldfool8-Jan-20 9:29 
GeneralRe: Death And Taxes Pin
ZurdoDev8-Jan-20 10:14
professionalZurdoDev8-Jan-20 10:14 
GeneralRe: Death And Taxes Pin
TheGreatAndPowerfulOz8-Jan-20 11:03
TheGreatAndPowerfulOz8-Jan-20 11:03 
GeneralRe: Death And Taxes Pin
charlieg8-Jan-20 11:28
charlieg8-Jan-20 11:28 
GeneralRe: Death And Taxes Pin
TheGreatAndPowerfulOz8-Jan-20 11:37
TheGreatAndPowerfulOz8-Jan-20 11:37 
GeneralRe: Death And Taxes Pin
Mark_Wallace8-Jan-20 12:13
Mark_Wallace8-Jan-20 12:13 
GeneralRe: Death And Taxes Pin
Roger Wright8-Jan-20 13:10
professionalRoger Wright8-Jan-20 13:10 
GeneralRe: Death And Taxes Pin
Gary R. Wheeler8-Jan-20 13:52
Gary R. Wheeler8-Jan-20 13:52 
GeneralRe: Death And Taxes Pin
Jörgen Andersson8-Jan-20 20:07
professionalJörgen Andersson8-Jan-20 20:07 
GeneralRe: Death And Taxes Pin
Craftsmandan440779-Jan-20 3:57
Craftsmandan440779-Jan-20 3:57 
GeneralRe: Death And Taxes Pin
agolddog9-Jan-20 7:05
agolddog9-Jan-20 7:05 

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