Yes it is 55% once you pass a small base amount for a married couple. Easy if you own a nice home with possessions and have retirement savings. That's why we give the maximum amount allowable under law each year to our adult children and grandchildren. We would rather give it to them while alive, than have the government steal over half after we die. We've been doing this ever since we set up living trusts and our lawyer gave us the bad news about the government's 55% wealth redistribution policy.
Amen!
Revocable trusts are where it is at! My mother died years ago but my father>>>> He signed a living (revocable trust) trust a few months before he died. This way the lawyers did not get a piece of it via probate. His estate was too small for the Feds to tax. We just did it to cut out the greedy lawyers. I know a great lawyer ($300-$400) who does this in Florida. Anyone can freepmail me on this
This is how you avoid probate and probate lawyers