Steinbrenner's billions will avoid the estate tax while the country goes broke.

[sinkingfeeling]

http://www.msnbc.msn.com/id/38232917/ns/business-personal_finance/

Born on the Fourth of July, George Steinbrenner left the world stage with a great sense of timing too.

By dying in 2010, the billionaire and long-time New York Yankees owner's wealth avoids the federal estate tax, likely saving his heirs enough money to field an entire team of Alex Rodriguezes.

Forbes magazine has estimated Steinbrenner's estate at $1.1 billion. The federal estate tax in 2009 was 45 percent, with the $3.5 million per-person exemption. If he had died last year, his estate could thus have faced federal taxes of almost $500 million, depending on how the estate was structured.

Even if the Steinbrenners sold the assets right away, the top capital gains tax rate is 15 percent. Worst-case scenario, depending on how much the assets appreciated after Steinbrenner acquired them: a $165 million tax bill.

That's a tax break of about $328 million. A-Rod's 2010 salary: $32 million.

[ArcticFox]

1. Yep

Don't be surprised if a lot of rich old guys die this year. If I were an old billionaire, I'd be dying this year for sure.

[no_hypocrisy]

2. My prediction was darker. I could see a lot of unexplained sudden deaths of wealthy individuals

during the term of January 1 through December 31 (midnight), 2010.