For example, if you have a house worth $20 million and you bought it for $2 million, the potential tax impact on your heirs would generally depend on the estate tax exemption and the capital gains tax basis at the time of your death.
Estate Tax: The federal estate tax applies to the value of your entire estate, including the house. If your total estate is below the $13.9 million exemption limit (for 2024), your heirs won't have to pay federal estate taxes. If the estate exceeds this limit, the amount above the exemption would be subject to estate tax. For an estate valued at $20 million, if the exemption limit is $13.9 million, your heirs would be liable for estate tax on the $6.1 million excess. The tax rate on this amount is up to 40%, depending on the specifics of the estate.
Capital Gains Tax: When heirs inherit a property, the property's basis is typically "stepped up" to its fair market value at the time of death. This means that if your heirs sell the house for its current value of $20 million, they generally won't have to pay capital gains tax on the appreciation from $2 million to $20 million. The gain is not taxable if they sell it for the stepped-up basis amount of $20 million.
In summary:
Estate Tax: If the estate exceeds the exemption amount, your heirs may owe estate taxes on the excess. Capital Gains Tax: Generally, your heirs will not owe capital gains tax on the increase in value since the basis is stepped up to the market value at your death.
The stepped-up basis would be $20 million, so if your heirs sell the house for its current value of $20 million, there would be no capital gains tax owed, since the basis is adjusted to the market value at the time of death.
So, in 2026, with a $5 million exemption limit, your heirs would face an estate tax liability of approximately $6 million, assuming the estate tax rate is 40% and the full amount above the exemption is taxable. There would be no capital gains tax due on the house if sold for its stepped-up basis value.
我的理解
Revocable trust里的资产还是属于自己的。报税随着个人税一起报，设置revocable trust好处：
1，如果父母过世，资产不需要经过法庭的probation period，而这个过程耗时耗钱，因为律师的报酬按资产的比例提取。给孩子省很多时间精力和钱。
2，财产放在trust里，网上搜寻人名不太容易搜到。有一点保护隐私的作用。过世后房产股票有step up basis，但是同时受遗产税的限制。
3，孩子的配偶不太容易分到trust里的钱。这样不用担心自己孩子配偶分自己的辛苦钱。
Irrevocable trust需要指定trustee，而这个trustee不能是配偶。一般是委托律师或银行或第三方。好处是
1，有保护作用。这个trust是单独的报税个体，已经和你无关，不是属于你的财产。
2，不受遗产税的限制，里面的钱就在里面，可以500万，也可以五亿，一直传承下去。
3，可以保护钱不被孩子配偶分走。
但是irrevocable trust因为是由trustee分配，需要设置好，怎么分，分多少。而且有管理费，一般是1%。
我自己几年前设了revocable trust，住在州遗产税额度很低的州，起征点只有200万。当时律师讲了几步怎么避免遗产税，夫妻双方一人过世，转一部分到irrevocable trust，但是现在已经忘了该怎么操作。
听说需要在Nebraska设置？是给后代传承用的？居士能不能给我们具体科普一下？
好像是设置之后，里面有
partner，自己占51%就有决定权了，可以让孩子占49%，这样避免了irrevocable trust自己没有任何决定权的弊端？
们做不可撤销信托的动力就失去了。2026年开始遗产起征点要降低一大半，过去几年又通胀那么多，所以现在小富不超富的人又有动力去做了。这玩意儿不是为了省28.5%的利得税而是40%的遗产税。
For example, if you have a house worth $20 million and you bought it for $2 million, the potential tax impact on your heirs would generally depend on the estate tax exemption and the capital gains tax basis at the time of your death.
Estate Tax: The federal estate tax applies to the value of your entire estate, including the house. If your total estate is below the $13.9 million exemption limit (for 2024), your heirs won't have to pay federal estate taxes. If the estate exceeds this limit, the amount above the exemption would be subject to estate tax. For an estate valued at $20 million, if the exemption limit is $13.9 million, your heirs would be liable for estate tax on the $6.1 million excess. The tax rate on this amount is up to 40%, depending on the specifics of the estate.
Capital Gains Tax: When heirs inherit a property, the property's basis is typically "stepped up" to its fair market value at the time of death. This means that if your heirs sell the house for its current value of $20 million, they generally won't have to pay capital gains tax on the appreciation from $2 million to $20 million. The gain is not taxable if they sell it for the stepped-up basis amount of $20 million.
In summary:
Estate Tax: If the estate exceeds the exemption amount, your heirs may owe estate taxes on the excess. Capital Gains Tax: Generally, your heirs will not owe capital gains tax on the increase in value since the basis is stepped up to the market value at your death.If the estate tax exemption in 2026 is $5 million, here’s how the tax situation would change:
Estate Tax Calculation:
Your estate is valued at $20 million. The exemption limit is $5 million. The taxable amount for estate tax is $20 million - $5 million = $15 million.The estate tax rate is progressive, with the maximum rate at 40%. For simplicity, let’s assume the rate is at the maximum:
Estate Tax Liability = $15 million × 40% = $6 million.Capital Gains Tax:
The stepped-up basis would be $20 million, so if your heirs sell the house for its current value of $20 million, there would be no capital gains tax owed, since the basis is adjusted to the market value at the time of death.So, in 2026, with a $5 million exemption limit, your heirs would face an estate tax liability of approximately $6 million, assuming the estate tax rate is 40% and the full amount above the exemption is taxable. There would be no capital gains tax due on the house if sold for its stepped-up basis value.
”人傻钱多“的大款的”傻“儿子们只是信托的受益人，他们从这个法人那里定期拿钱而已。 只要这个信托里还有资产，这个法人永生不死，永远按照你设立时的想法给你的子孙后代发钱。
这种不可撤销信托的聪明之处就是把财产的拥有权，控制权，使用权都分离开。你并不需要拥有财产才能使用它们，穷人靠政府，富人靠信托
由trust控制的实体
https://privatebank.jpmorgan.com/nam/en/insights/wealth-planning/irrevocable-trusts-what-beneficiaries-need-to-know-to-optimize-their-resources
可能几十轮了，但是公司还在。所谓的不可撤销信托永生不死就是指管理人可以一轮轮换，只要信托里还有资产，受益人就一直能得到财务上的依靠。
我们来真的算一算。假如2026年你有5米（为了简单Cost basis姑且算为零），2026年遗产税免额降为7米，遗产税率仍为40%。估计符合投坛平均水平。
===== 没有设立不可撤销信托的情况是：=====
假如5米投标普指数，每年含分红增长10%，30年后（过世时）财产总值为： 5*(1+10%)^30 = 87米。
假设通胀平均每年3%，30年后遗产税免额增长为：7*(1+3%)^30 = 17米
需要缴遗产税为： (87 - 17) * 40% = 28米
后代税后继承财产（含Cost Basis Step-up)总数为：87 - 28 = 59米！
===== 设立不可撤销信托的情况是：=====
不可撤销信托每年收手续费 1%， 30年共收手续费为： 5*(1.1^30 - 1) / (1.1 -1)* 1% = 5 * 164.5% = 8.2米
后代继承后卖掉，交Long-term Capital Gain Tax （联邦+州税率约为30%）：(87-8.2) * 30% = 23.6米
后代税后实际能拿到为：87 - 8.2 - 23.6 = 55.2米
========
结论：设立不可撤销信托，似乎并没有像宣传中那么有效，至少对一代财产继承，反而是费力不讨好， 不如不做。
我觉得irrevocable trust虽然能省一些遗产税，但它最主要的目的不是省钱，而是保护这笔财产，和保障后代衣食无忧。因为这笔钱已经与设置人无关，有告到倾家荡产的官司时这笔财产不能被追帐，因为它已经独立出去了。
不卖就不是可花的钱。