Can rich Americans really evade inheritance tax by setting up funds?
Rich Americans have a tradition of donating their inheritance to funds. It is said that in order to avoid inheritance tax, I specially checked the information. Indeed, funds in the United States are privately owned after their establishment. The activities and articles of association of funds are trade secrets and can be kept secret, which means that the descendants of the rich can manipulate the operation of funds at will. However, American law also stipulates that foundations must spend no less than 5% of their property for charity every year. In other words, if the foundation does not make money, it can close down in less than 20 years. It can be seen that the establishment of the fund is nothing more than the difference between one-time payment of inheritance tax and installment payment of inheritance tax. Really can't escape the inheritance tax.