date:Sep 18, 2013
ted arranging his affairs to avoid a potential estate tax bill in 1953. His five-and-dime-store business was still in its infancy and his oldest child was 9.
That year, he gave a 20 percent stake in the family business to each of his children, keeping 20 percent for himself and his wife.
The best way to reduce paying estate taxes is to give your assets away before they appreciate, he wrote in the book.
Rockefeller riches
Sams retailing success made his family the richest since the Rockefelle