• zalgotext
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    1 year ago

    If necessary for the inheritor to meet their tax obligations, sure. I’m sure there’s a dozen different estate tax systems in place that tax professionals would know more about, but yes, liquidating assets would be one way for an interior to meet their tax obligations.

    • aidan@lemmy.world
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      1 year ago

      What would another way be? Say I inherited my parents company they built, entirely privately owned.

      • zalgotext
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        1 year ago

        You would be charged a tax proportional to the value of that business. How you pay it is up to you. This is how estate tax is currently done in the US at the Federal level. Again, I’m not a tax professional, so if you want to know more I’d suggest looking into it yourself.

        • aidan@lemmy.world
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          1 year ago

          That would essentially mean family businesses, at least past a certain size, would be impossible. Or more realistically, they would just obfuscate the ownership structure.