Estate planning, or the process of planning for what happens to your accumulated wealth and your dependents when you die For years, there has been a debate on whether to repeal estate taxes, often referred to as death taxes, entirely. While this would benefit the wealthy, not all wealthy individuals are in favor of its repeal.

Without the estate tax, you will in effect have an aristocracy of wealth, which means you pass down the ability to command the resources of the nation based on heredity rather than merit. Repeal would be like choosing the 2020 Olympic team by picking the eldest sons of the gold-medal winners in the 2000 Olympics (Warren Buffett). What do you think?