>I already paid taxes when the money was earned, so if I choose to spend my final years dissipating my fortune on hookers and blow so there is no estate left, that deserves to only be taxed once?
If you choose to spend it all on hookers and blow, you deserve to be arrested. If, however, you spend it all on legal things, say booze and expensive toys, it will be taxed again.
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>But if I choose to live frugally because I want to leave a large estate to my kids (celebutards or not), that deserves to be taxed twice?
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>What horrible thing would I have to do to deserve to be taxed 3 times?
Where do yo get three times here? Once when you earned and once when you give it to them. Ah, is the misunderstanding here that you think the heirs pay income tax on this? Nope.
http://wills.about.com/od/Understanding-Estate-Taxes/qt/Will-You-Have-To-Pay-Taxes-On-Your-Inheritance.htmTamar
