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tax on estate Read somewhere 8 siblings are gearing up for princes estate. No mention of the death tax . I thought the Federal tax ( death tax) is 40% ( once over the 5mill threshold) , estate tax for Minneapolis is 13%. Future earnings will be 7% .. lawyers etc ... doesn't leave much for the siblings and even worse whose going to look after paisley park and princes vault..what a mess... problem with tax man they want their money before they release anything.. Charity would've been the best option they get to keep all of it? Only if he made a will still a chance when the death certificate becomes available .. he has never let us down 0+> | |
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Anyone from the start saying oh they shouldn't release anything from the Vault, didn't understand the taxes or financial burden even worse without a will. What are you outraged about today? CNN has not told you yet? | |
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With the tax burden, they will have to sell the contents of the vault to a record label. not the worst thing inthe world............. | |
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friend2001 said: With the tax burden, they will have to sell the contents of the vault to a record label. not the worst thing inthe world..... Maybe, but not if the label thinks there's more profit in releasing the songs using the teen idols of the day. What would earn more money? Songs released as prince or songs released by justin bieber and Beyoncé, written by prince? Ouch! |
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There is really something wrong with an essentially 60% estate tax. Apprently you can't take it with you, nor give it to someone else. | |
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 "We just let people talk & say whatever they want 2 say. 9 times out of 10, trust me, what's out there now, I wouldn't give nary one of these folks the time of day. That's why I don't say anything back, because there's so much that's wrong" - P, Dec '15 | |
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There is the possibility that Prince was patriotic enough that he didn't care if a part of his estate went to taxes. I mean: Either your estate is taxed OR you reduce the estate's worth by giving part of it away. Either way, the estate's worth is reduced, before the residual is distributed to beneficiaries. Prince had lawyers at his beck and call. We are assuming that Prince not having a Will was an accident upon his part. But, there is the possibility that it was not an accident at all. We know how much he loved Minnesota. Why is it surprising that a part of Prince's Estate will go to Minnesota in death taxes? RIP Prince. We will NEVER forget you. Thank you so much.
"Dearly Beloved: We are gathered here today 2 get through this thing called: 'Life'." | |
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mailaccount63 said: There is the possibility that Prince was patriotic enough that he didn't care if a part of his estate went to taxes. I mean: Either your estate is taxed OR you reduce the estate's worth by giving part of it away. Either way, the estate's worth is reduced, before the residual is distributed to beneficiaries. Prince had lawyers at his beck and call. We are assuming that Prince not having a Will was an accident upon his part. But, there is the possibility that it was not an accident at all. We know how much he loved Minnesota. Why is it surprising that a part of Prince's Estate will go to Minnesota in death taxes? The will probably come out when the death certificate has been produced. If their is no will/trust we should all respect his wishes and release his music , videos on this site for free .. He always said free music to fans. Unfortunately their is not going to be any new footage , live concerts of prince now .. damn miss him.. Music should be free including his footages legacy continues | |
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. Exactly...all Prince's children being pimped out in eternal slavery. It doesn't sound like a great outcome. | |
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RIP Prince. We will NEVER forget you. Thank you so much.
"Dearly Beloved: We are gathered here today 2 get through this thing called: 'Life'." | |
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OMG...I would not buy it!! Welcome home class. We've come a long way. - RIP Prince |
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"Music gives a soul to the universe, wings to the mind, flight to the imagination and life to everything." --Plato
https://youtu.be/CVwv9LZMah0 | |
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God, that's nauseating. | |
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[Edited 6/10/16 7:08am] RIP Prince. We will NEVER forget you. Thank you so much.
"Dearly Beloved: We are gathered here today 2 get through this thing called: 'Life'." | |
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[Edited 6/22/16 6:42am] RIP Prince. We will NEVER forget you. Thank you so much.
"Dearly Beloved: We are gathered here today 2 get through this thing called: 'Life'." | |
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