Friday, January 12, 2024

A trust for Samsung’s founding Lee family struggles to pay $10 billion in inheritance taxes

I bet, worries most people do not have! How much of these taxes represents double taxation? Or is this a case of overtaxation? Is it just?

Following famous words of Benjamin Franklin come to mind: "Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes."

"~$2 billion: The value of the shares that a trust for Samsung’s founding Lee family sold to help pay one of the world’s largest inheritance-tax bills ... Lee Kun-hee, whose father founded the Korean conglomerate, died in 2020, leaving his family with more than $10 billion in estate taxes. In 2021, they unloaded rare Picasso and Monet paintings to help cover the bill."

The Wall Street Journal What's news

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