Zurie, thank you. What I was talking about. My father in law passed in '95. He was a financial "wonk" in today's terms, retired as head of pension investments for a national bus company. One of those who worked up from the entry level accountant. He had ethics, and a very good brain. The ticker tape ran in his brain, used no computer, just a 10-key. He set up a trust fund for his daughters and grandkids just to protect his personal wealth. The family, including me, has been blessed since then, direct deposit investment income, etc. Those who died w/o such a setup were hit hard, the 55% was just Federal, now throw in the State taxes on real estate and personal upon death, those rates brought it upwards of 75% back then...not much different now even tho "death tax" revisions.
The old joke about the new IRS tax forms on postcards:
1) How much did you make?
2) Send it in.
*** Political Rant Removed by the Staff - Please Stay on Topic! ***