Chuck Feeney Quotes

There is no law saying you have to die before your assets can be passed to loved ones. In fact, gifting earlier can be a lovely way to witness how your money helps your family thrive.

I'm in spend-down. I've got a billion in cash. You can't leave people a billion pounds, can you?

Estate planning is an important and everlasting gift you can give your family. And setting up a smooth inheritance isn't as hard as you might think.

Many people are smart enough to know how to manage themselves out of the estate tax.

I bought an insurance policy covering the inheritance tax my kids will have to pay when we die, which I thought was a good bit of forward thinking. And I always know I'm going to have enough for tax because I make sure I keep it back in my business account.

The only way you can beat the lawyers is to die with nothing.

The estate tax punishes years of hard work and robs families of part of their heritage by imposing a huge penalty on inheritance after death - a tax on money that has already been taxed.

I hope that the Senate acts quickly to pass this legislation so that Americans will no longer worry about having to sell the family farm or business to pay taxes after the death of a loved one.

I'm spending a year dead for tax reasons.

I mean I get loads of money, all from different sources. You give it to your accountant. They manage it. But you pay corporation tax. If you're then taking it out and spending it on yourself, you have to pay more.

What I advise clients is, sell, pay the tax and be happy. Don't ask me to find a replacement unless it's land.

An increase in the State inheritance tax, steeply graduated and applying to all property in the State regardless of where the owner may reside.

“Death Taxes” are not levied on the dead, who have passed beyond reach of the IRS, but on the heirs who did nothing to earn the money …

Many countries, even socialist Sweden and former communist Russia, have done away with their death taxes. They found the confiscation of wealth at death to be counterproductive.

With inheritances, it's really important not to give the impression that you're extorting your children, and one way you can not do that is to make it clear to them that you're not leaving the whole of your estate to them at all, but to various charitable organizations.

Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one's taxes. Over and over again the Courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible. Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands.

People should have an escape valve for their money, their assets. If you have substantial financial assets, the government is going to confiscate the purchasing power of those assets and spend it.

I think to the extent you die with money in the bank, you've miscalculated.

What I usually do is hoard money - I accumulate as much as possible in the fear of not having enough to pay tax.

Some people want to amass a great amount of wealth and make a great looking obituary. I'm going to die with more money than is good to leave my son.

I have no interest in becoming a tax exile and living somewhere I don't want to - I just want to be at home with my family.

What do wealthy people do with their money? They can only buy so many cars, houses, and steak dinners. So we either give it away or invest it.

It's time we permanently repeal the tax on possessions that people leave to their children.

If you have millions of dollars you are not going to get to continue doing what you want. You are into a world of commitment to that money and all the people that helped you get that money.

I'm not gonna give the British Government the joy of keeping taxing me. They don't tax art. And all my cars are just a collection of art.