How the wealthy are preparing for an estate tax clip

See how the federal estate tax has changed in the 21st century

In 2001, the government passed an act to completely repeal the tax. It was overturned in 2010. In 2017, the government increased the exemption threshold so fewer people would have to pay into the tax. In 2025, the exemption threshold was permanently set to $15M.

Half of the richest people in the US are finding ways around death taxes

One of the main purposes of the federal estate tax is to crack down on generational wealth, so wealth isn't concentrated among a select few. However, the ultra-rich have found ways around paying these taxes. This ProPublica article investigates the practices used by half of the 100 richest people in the US to avoid death taxes.

The debate over estate taxes centers on wealth inequality

Since the modern federal estate tax was implemented, people have felt strongly about whether or not to keep it. Much of the debate boils down to equality: Proponents say the tax creates better income equality between the rich and poor, while opponents say it's an inequitable tax only placed on the wealthy.

If the estate tax is repealed, more expensive alternatives might come in its place

The federal estate tax has been up for political debate for decades. Many want to get rid of it altogether. If repealed other tax options, like capital gains taxes, could have people paying more in taxes than before.

Historically, only about 1% to 2% of Americans had to pay the federal estate tax

Recent IRS data shows that between 2011-16, that number dropped even lower: The federal estate tax only impacts about 0.2% of Americans. Death taxes typically only impact the rich, and the federal estate tax is no exception.

The highest 2024 federal income tax bracket covered income upward of $731,201 for married couples filing jointly

To understand what you would owe on short-term capital gains and to visualize the favorability of long-term tax rates, you need to know how your traditional income is taxed at the federal level. A breakdown explores the different brackets for 2024, separated by filing status.

How much tax you would owe on a $14M inheritance

“Death taxes” refer to estate and inheritance taxes—fees imposed on wealth transfers after someone passes. While the federal estate tax only applies to estates over $13.61 million in 2024, some states, like Washington, have their own taxes.

The 'ultrawealthy' in 2026 hold $30M or more

This group of ultra-high-net-worth individuals holds more than double the assets of the top 1% of Americans (and this group holds over a third of all American wealth). These folks go beyond a well-funded retirement plan and a paid-off home common to middle-class households with investments in private equity, commercial real estate, and alternative assets like art.

In 2019, Congress passed the Secure Act to reform key aspects of the US tax code

Key Secure Act provisions included raising the age at which mandatory distributions take effect (to increase saving), allowing larger catch-up contributions for older individuals, and allowing employers to directly match contributions in a Roth 401(k).

What is the unlimited marital deduction?

One big way to avoid paying several death taxes? Get married. The unlimited marital deduction allows an individual to grant all their financial assets to their spouse while they're alive or after they’ve died without having to pay the federal estate tax or gift tax. There are limitations to this rule. For instance, how it works with state death taxes. Learn more here.

History’s largest intergenerational wealth transfer is happening in the next few decades

The founder of a multifamily office firm offers lessons on how to preserve wealth for generations from a global perspective, like educating younger family members.

Warren Buffett paid a lower effective tax rate than his secretary

While wages and salaries are taxed progressively at rates up to 37%, long-term investments are taxed at lower rates: 0%, 15%, or 20%. For wealthy individuals like Buffett, whose income mainly comes from investments, this means paying a lower effective tax rate than someone earning a salary.

A group of billionaires and millionaires wants to pay more taxes

Hundreds of billionaires and millionaires have signed a letter called “Proud to Pay More,” in which they ask world leaders to tax the wealthiest individuals more than they currently do. The group, which includes Disney heir Abigail Disney and Valerie Rockefeller, re-upped their call at the World Economic Forum in Davos this year. Learn about the “Proud to Pay More” letter in this article.

Trusts are estate planning tools

They’re used as a way to designate assets to beneficiaries while skirting certain taxes and maintaining one’s privacy. They can hold a wide range of assets, including cash, real estate, stocks, businesses, and more.

Americans spend an average of $200 on tax preparation services like TurboTax and H&R Block

In 2025, about half of Americans were able to file taxes directly with the IRS for free. It was the second year of the agency's new program, which cuts out intermediaries. Though tax preparation has been free for many Americans, critics say tax companies upsell customers.

A rising number of Social Security beneficiaries are taxed on their Social Security income

That’s because while Social Security benefits increase with wages and inflation, the income limits for taxing those benefits stay the same and don’t adjust over time.

Financial caregiving 101

In this podcast episode, a financial expert outlines how to prepare to financially take care of an elderly parent before they get sick or an emergency happens. This includes ensuring their payments are automated, getting access codes for their cell phones and accounts, and more.

Tax-loss harvesting is a way that some people attempt to trim their tax bills

Specifically, tax-loss harvesting is a way to lower your tax bill by offsetting investment gains with losses. It can be tricky to practice and comes with a few important rules, so working with an expert may be your best bet before Tax Day.

Wealthy Americans are keeping car dealerships afloat

In the past five years, the share of people buying cars above $50K has increased by several-fold. Car prices have significantly increased overall in recent years.

Owning a home can help build wealth via tax benefits and more

In addition to tax benefits and the potential to build equity in your home, houses are also typically considered an appreciating asset. That means their value is likely to increase over time.

Tax policy can have a direct impact on the national debt

Past presidents' changes to tax codes have inflated the deficit. An expert on the topic explains the interplay between policy and the national budget while debunking 10 tax-related myths in this podcast.

What are college endowments? An expert explains

College endowments are meant to last forever. That's why some of the oldest, most prestigious schools in the US have lasted so long. A higher education finance expert weighs in on how these funds work and offers fascinating tidbits on how they impact university finances.

Rhode Island plans to impose a ‘Taylor Swift tax’ on second homes

Starting in the summer of 2026, the state will impose a new property tax surcharge on second homes valued at, or over, $1M that aren’t used as primary residences. Some are calling it the “Taylor Swift tax,” given that Rhode Island is home to the pop star’s gargantuan historic beach house.

The term 'wedding tax' is often used to refer to the extra money that many wedding industry suppliers charge

According to wedding vendors, the "wedding tax"—the additional money charged for goods and services specifically intended for a wedding rather than another type of event—stems from the increased amount of time and attention that someone like a florist or makeup artist spends on a wedding versus any other type of event. Unlike other events, weddings are often planned a year or more in advance and require more detailed planning and hours of communication.

President Trump implemented a $100K fee on new H-1B visa applications

In September 2025, President Trump announced a $100K application fee for new H-1B petitions, framing it as a way to limit misuse of the program. His administration later clarified it was a one-time fee for new applicants, not an annual charge. (Some users may experience a paywall.)

Calculate how much of your tax dollars go to each federal program based on your income, filing status, and number of children

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

US housing costs have risen by roughly 175% between 1991 and 2026—but a growing number of Gen Zers are becoming homeowners anyway. In 2025, 4% of homebuyers were Gen Z, up from 3% the year before.

11 people died from firework injuries in the US in 2024.

Despite being favored by 87% of Americans, Congress does not have term limits.

US consumers collectively owe more than $1T to credit card companies—almost as much as they owe in auto loans.

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

SpaceX's S-1 or 'prospectus' revealed many previously unknown details about the company, including its unprofitability despite doing $18.7B in revenue in 2025, exactly how many voting shares Elon Musk will have in the company (roughly 85%), and more.

Apeirophobia is an overwhelming fear of living forever, perhaps stemming from the brain's inability to conceptualize an infinite life.

Indefinite cloning of some endangered species may not sustain their longevity because cloning success rates decrease as genetic mutations accumulate.

Frank Lloyd Wright's houses are historically hard to sell because they're old, subject to local landmark commissions, and often unfashionable

Listen to an in-depth conversation on the links between Parkinson's disease and herbicide exposure and the challenging pace of scientific investigation.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

See a ranking of the best (and worst) Federal Reserve Chairs since 1914 out of the 16 men and women who have held the office since.

A Yale student wrote a profound essay about the consulting industry's influence on elite college students that was published in a book of her writing after she died in a post-graduation car accident.

In 2026, Finland was named the world's happiest country for the ninth consecutive year based on its wealth, social safety network, and high life expectancy, among other factors.

This real-time tracking of the hantavirus cruise ship outbreak in May 2026 offers a unique glimpse into the global reach of the outbreak and whether the virus sickened passengers and their communities around the world.

Explore fun facts from the USPS, including unique post office buildings, a stamp that traveled past Pluto, and more.

Fish populations in the Great Barrier Reef have increased after installing waterproof speakers on the ocean floor that played recordings of sounds from healthy coral reefs.

Hear 50 years of iconic hip-hop samples, the genre's foundational looped tracks

Watch the cumbersome, but necessary, precautions healthcare workers must take to care for and protect themselves while caring for Ebola patients.

The most expensive ad of all time was for Chanel No. 5 perfume and cost roughly $33M to produce in 2004—about $57M in today's dollars.

The boiling temperature of water decreases with increasing elevation because the molecules need less energy to overcome the lower atmospheric pressure associated with thinner air.

Against his wishes, Albert Einstein's brain was removed before his cremation, and the pathologist responsible stored it for decades in mason jars within a beer cooler.

Prince's sexually explicit 1984 track 'Darling Nikki' attracted the ire of the Parents Music Resource Center, an advocacy group that inspired the Parental Advisory sticker, even though the song ends with a Christian message.