Gay Marriage Is going to Supreme Court! - Page 22 - The Horse Forum
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post #211 of 226 Old 04-08-2013, 12:29 PM
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Originally Posted by Joe4d View Post
If you are having a problem with inheritance tax you screwed up.
While federal taxes may have been avoidable by planning (up to a point as there are still gift taxes that might need to be addressed as well as proof the surviving partner contributed to home/accounts/etc which "legally" married couples don't have to worry about), state taxes may have to be paid regardless of how much planning was done. Here is PA, only joint property owned by husband and wife is exempt from inheritance taxes. If we weren't married, and if my spouse died, I'd have to cough up 15% of everything we own, from our farm, to our cars, to our savings accounts and stocks.

A hundred acre farm with a nice house and barn around here goes for just shy of $2million... and 15% of that is about $300k... $300K that the survivor of a hetero marriage would never have to pay, but the survivor of a same sex marriage does. No amount of planning is going to change that.

Everyone is entitled to their own opinions, but not their own facts.
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post #212 of 226 Old 04-08-2013, 01:09 PM
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If this was her husband she would (as far as I know) automatically squire the estate, tax free. She was engaged, and living with her, then eventually married for 45 years... They clearly aren't "just friends" , they might as well be strangers in the eyes of the federal government.
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She wouldn't necessarily inherit the estate tax free - it depends upon the size of the estate. However, if they were joined legally in a civil union or "marriage", the surviving partner would have claim on 50% or some portion of the estate, as their own personally owned property, so would pay tax on whatever amount of the remaining portion was above the amount exempted from estate taxation. That is most likely the actual issue at hand, and is likely what the case is pleading for - sort of like pleading for spousal rights based upon a common law marriage, although as I think I said, I am not familiar with the case itself.

Stuff like this is exactly why, although I (obviously) vehemently oppose homosexual marriage, I feel there should be a civil union available that is recognized by all states, that gives homosexual partners the same legal rights as heterosexual partners. While it is not necessary to condone homosexuality, and trust me, I don't, it is unfair, discriminatory, and downright immoral to punish homosexuals just for being homosexual.

As for whether it was done intentionally to establish a precedent, I wouldn't of course know. It is certainly possible...some people are strongly guided by principles and the desire to effect change...
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post #213 of 226 Old 04-08-2013, 01:58 PM Thread Starter
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Right off this website: Capital Acquisitions Tax

"Introduction:

If you receive a gift, you may have to pay Gift Tax on it. If you receive an inheritance following a death, it may be liable to Inheritance Tax. Both these taxes are types of Capital Acquisitions Tax.

The benefit (the gift or inheritance) is taxed if its value is over a certain limit or threshold. Different tax-free thresholds apply depending on the relationship between the disponer (the person giving the benefit) and the beneficiary (the person receiving the benefit). There are also a number of exemptions and reliefs that depend on the type of the gift or inheritance.

If you receive a gift or inheritance from your spouse or civil partner, you are exempt from Capital Acquisitions Tax."
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post #214 of 226 Old 04-08-2013, 02:43 PM
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Right off this website: Capital Acquisitions Tax

"Introduction:

If you receive a gift, you may have to pay Gift Tax on it. If you receive an inheritance following a death, it may be liable to Inheritance Tax. Both these taxes are types of Capital Acquisitions Tax.

The benefit (the gift or inheritance) is taxed if its value is over a certain limit or threshold. Different tax-free thresholds apply depending on the relationship between the disponer (the person giving the benefit) and the beneficiary (the person receiving the benefit). There are also a number of exemptions and reliefs that depend on the type of the gift or inheritance.

If you receive a gift or inheritance from your spouse or civil partner, you are exempt from Capital Acquisitions Tax."
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I don't know if you live in Ireland or if you did not realize that site pertains to Ireland - not the US...in either case, Irish and US taxation laws are not identical...
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post #215 of 226 Old 04-08-2013, 03:04 PM Thread Starter
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I don't know if you live in Ireland or if you did not realize that site pertains to Ireland - not the US...in either case, Irish and US taxation laws are not identical...
Holy. Face. Palm. Moment.

My bad...
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post #216 of 226 Old 04-08-2013, 03:18 PM
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.

Inheritance Tax, Estate Tax, Gift Tax, all have the same thing in common, they are payable by the recipient regardless if the giver and receiver were married.

At least that is the way I read the IRS Code....

.
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post #217 of 226 Old 04-08-2013, 04:59 PM
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Holy. Face. Palm. Moment.

My bad...
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Haha...it's not like the rest of us haven't done the same thing...
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post #218 of 226 Old 04-08-2013, 05:39 PM
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Originally Posted by SouthernTrailsGA View Post
.
Inheritance Tax, Estate Tax, Gift Tax, all have the same thing in common, they are payable by the recipient regardless if the giver and receiver were married.
While estate tax laws generally allow married heterosexuals to transfer unlimited assets to their spouses at death without incurring estate tax liability, those in same-sex relationships are limited in their ability to transfer assets tax-free to their same-sex partner upon death.

From what I can ascertain (and what I have found out from my friend in a same sex marriage) there are "marital deductions" that hetero married couples can get but same-sex couples cannot.

So, yes, while taxes are taxes and everyone pays them, the amounts certainly can differ...

Everyone is entitled to their own opinions, but not their own facts.
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post #219 of 226 Old 06-17-2013, 09:42 PM
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well speaking as a Christian with several queer friends, one of whom is Christian s well, I couldn't care less who you fall in love with and marry, as long as they treat you right. I don't see why someone's marriage is anybody else's business, saying someone elses choices/lifestyle/anything is against your religion is like complaining about someone eating a donut when YOU'RE on a diet.

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post #220 of 226 Old 06-17-2013, 09:59 PM Thread Starter
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Well said Samstead!

I don't like how 1) homosexuals get pinned as religion hating. Not true. 2) Religious people as a whole get pegged at homosexual hating, again not true.

I've noticed a lot more churches becoming more "gay friendly" lately. Honestly, fast forward 10 or 20 years and there will be way less homophobia in the world, the church included!
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