Percentage of Net Worth

BLongley · #1 07-27-2018, 12:33 PM

It's $5.6mm per person, $11.2mm per couple for 2018.

QUOTE=kailes2872;1798545]I ask this question as only theoretical (as my wife and I were discussing last night)...

For the high net worth folks, I ask this -

If you are covered up to 5 million on inheritance tax, and then everything above 5 million has a death tax rate of approximately 40%, then 12 million becomes 9 million really quickly (2.8 million in taxes above 5 million).

I know that cards and collectibles are assets but it becomes a little more blurry as there is not a hard and fast amount in mutual fund account that has a set tax.

If over the next 30 years, a high grade green Cobb is purchased, along with some Ruth's, Mantles, etc., and that 12 million dollars in the pile is now 9 and the 2.8 million dollar tax bill is now 1.6 million but ownership transfer has been given to the kids over time, does that help? Or is it simply changing the shape of money and in the end money, property, collectibles, whatever are tallied up and the inheritance tax is given based upon that total above 5 million?

I was using this analogy with my wife last night as a real good reason for me to up the ante in my collection in the coming years as a way to keep assets in the family instead of in Washington, but if it doesn't matter, I will need to come in at a different angle.

Thanks![/QUOTE]

View Poll Results: What percentage of your net worth consists of baseball cards?
Under 1%	70	20.17%
1-5%	105	30.26%
6-10%	69	19.88%
11-25%	59	17.00%
26-50%	24	6.92%
51% or more	20	5.76%
Voters: 347. You may not vote on this poll

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