Interesting Note:
*The largest occupational groups to pay federal estate taxes for the period 2004 – 2006 are:
- First, CEOs,
- Second, Healthcare workers
- Third, teachers.
Bet you would not have guessed teachers! The group includes teachers, librarians and curators. Real estate (excluding personal residence) is noted as a primary reason contributing to estate tax liability.
*Source: Journal of Financial Planning, April 2010, Betting the Farm: Estate Planning for Middle-Income Clients by Shelley A. Lee