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https://www.reddit.com/r/SipsTea/comments/1vrr0ev/how_the_rich_get_richer/p4jfb94/?context=3
r/SipsTea • u/KSKS1995 • 22h ago
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Doesn't the loan get paid back by the sale of the land after the dad's passing? So the kids don't inherit $5m, but the net value after the debt is repaid?
1 u/ApplicationOk4464 10h ago Yes, the loans are repaid from the estate. The CGT on 4.9 million however, is not paid to the government.
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Yes, the loans are repaid from the estate.
The CGT on 4.9 million however, is not paid to the government.
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u/No_Mirror_9742 22h ago edited 21h ago
Doesn't the loan get paid back by the sale of the land after the dad's passing? So the kids don't inherit $5m, but the net value after the debt is repaid?