ESTEE LAUDER'S ESTATEESTEE LAUDER'S ESTATE
At first glance, the media reports that Estee Lauder's children were selling stock to raise $550 million for taxes, seem shocking. To owe that much in estate taxes means the estate was worth about $1 billion and raises the question of why Lauder, who surely had access to the best legal advice, would die with so many taxable assets. Wouldn't a good advisor have helped her transfer most of that money
July 1, 2004
Rorie M. Sherman Editor in Chief
At first glance, the media reports that Estee Lauder's children were selling stock to raise $550 million for taxes, seem shocking. To owe that much in estate taxes means the estate was worth about $1 billion and raises the question of why Lauder, who surely had access to the best legal advice, would die with so many taxable assets. Wouldn't a good advisor have helped her transfer most of that money out of her estate long ago? Her death this April could hardly have been unexpected. After all, she was in her late 90s (her birthdate was a well-kept secret, but most believe she was between 95 and 97 years old).
Of course, things are rarely what they seem. Frequently, tax concerns compete with other pressing nee...
Unlock All Access Premium Subscription
Get Trusts & Estates articles, digital editions, and an optional print subscription. Choose your subscription now and dive into expert insights today!
Already Subscribed?
