How the Clintons use trusts to cut tax

Publicly, Bill and Hillary Clinton have championed an estate tax, notes Bloomberg, on the grounds that it would help keep the country from being controlled by wealthy families. “That doesn’t mean they want to pay it,” notes the report.

By Staff | June 20, 2014 | Last updated on June 20, 2014

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Bill and Hillary Clinton have championed the estate tax, notes Bloomberg, on the grounds that it would help keep the country from being controlled by wealthy families.

Read: Shield insurance proceeds from U.S. estate tax

“That doesn’t mean they want to pay it,” notes the report.

In 2010 the Clintons established residence trusts “and shifted ownership of their New York house into them in 2011, according to federal financial disclosures and local property records. Among the tax advantages of such trusts is that any appreciation in the house’s value can happen outside their taxable estate,” explains the report.

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