Estate Tax

12/13/2010 @ 6:44 PM | Health with Comments Off on Estate Tax | Print This Post

I am not sure if you have been keeping up with the tax deal that has been trying to get passed. It is not that we will get a discount of sorts but to actually keep the tax rate the same as it is now for everyone. In this deal though there is something called the estate tax or death tax as it were where over and under a certain amount of money the families are dealt a tax rate to pay on whatever items are left to the families from the deceased. Now what I cannot understand is this: We pay taxes on everything now. Why must the recipients of the deceased accounts have to pay taxes again? It is just not right. You’d almost have to start selectively dividing everything up before you go to maybe avoid some of the taxes but you would have to have a crystal ball to know when that is.

Elderly people have enough to worry about including obtaining burial insurance for seniors. I’d want to make sure that once I am gone that I have plans laid out for what to do with my body so I would not have to burden my family. They would already be distraught as it is. At least I would hope so once I’m gone. Sadly, this could happen even before I reach that senior age and I should make sure I contact Allstate or go to and obtain a quote for some insurance to make sure all of this would be covered after my demise. I’m betting quite a few of us are out there have not even bothered to think about any of this because we think we have years before anything will happen to us. Hopefully that is true but one cannot account for a freak accident. I mean I have life insurance but does that really cover anything once I’m gone? I have no idea because honestly I have never read it. I just signed up for it when I started at the hospital 20 years ago. I couldn’t tell you even how much it is worth at this point which is sad.

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