The estate pays the loans back, but as the assets appreciate, the loans are covered….
The trick is moving your assets around, so that you personally own very little, and they have trusts or LLCs that own the assets so there isn’t inherent tax liability
It’s complicated…
The estate pays the loans back, but as the assets appreciate, the loans are covered….
The trick is moving your assets around, so that you personally own very little, and they have trusts or LLCs that own the assets so there isn’t inherent tax liability
Shrug fuck us.
Yachts don’t appreciate but yes, and inflation eats the debt so they win both ways.
Boats (yachts)
A hole in the water into which one throws money…