Bloomberg reports that, while the Clintons support an estate tax to prevent the U.S. from being dominated by inherited wealth, they don’t want to pay the estate tax themselves.

Based on federal financial disclosures and local property records, Bloomberg has determined that to reduce the estate tax pinch, the Clintons are using financial planning strategies befitting the top 1 percent of U.S. households in wealth. Such moves will help shield some of their estate from the tax that now tops out at 40 percent of assets upon death.

In particular, Bloomberg notes that the Clintons created residence trusts in 2010 and shifted ownership of their New York house into them in 2011.

via Wealthy Clintons Use Trusts to Limit Estate Tax They Back – Bloomberg.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.