VATICAN – Legalizing gambling fuels addictions, creating more and more compulsive gamblers, and using the industry as a source of tax revenue is unethical, said a major Vatican office.

If people think they will no longer be paying taxes upon death, they are sadly mistaken. As Benjamin Franklin wrote, “in this world nothing can be said to be certain, except death and taxes.” 

An estate plan should evolve and change as people age and family circumstances change. One goal should be to minimize and defer the tax on your death until the time your heirs sell the assets. Strategies can also be implemented during a person’s lifetime to minimize taxes.

No one knows exactly how much money is hidden away by millionaires and corporations in offshore bank accounts, but accepted estimates put it as high as $30-trillion dollars. Much of that money is undeclared and untaxed.