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NE Iowa | Not sure where to put this - I don't think it is fodder for TPP.
If you haven't seen it, there is a 27 yr old from India who is suing his parents for not consulting with him before bringing him into this world. OK - obviously a real odd duck and a crazy deal. Or is it...
https://fox61.com/2019/02/07/anti-natalist-suing-parents-for-having-...
Let's say you have done nothing in regards to estate planning. Let's also say you couldn't give 2 rips what anyone thinks of you and how you live life, do business, etc. (as long as it is legal)
A quick google search suggests that in the U.S., lawsuit proceeds are not taxable. So talk your kid into suing you for whatever reason. Then don't let the suit go to trial, but settle out of court. Boom - you've just figured out a way to transfer a bunch of wealth from 1 generation to the next with no tax impact.
I'm guessing somewhere along the way logic would prevail and this couldn't happen.......or could it..... | |
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27 yr old sues parents
