What We Know About Donald Trump's Children Inherting His Financial Assets

In 2019, Forbes reported that former President Donald Trump's poor financial planning could cost his children up to $1.3 billion in taxes. The outlet estimated that the Trump's kids might have to sell all of the Trump Organization's New York City real estate to cover the tax tab. As the outlet explains, in the world of billionaires, the name of the game is to give heirs your assets before you die to avoid estate taxes. An accountant for wealthy clients, Robert Keebler, told Forbes, "Some of the wealthiest people I represent die with almost nothing in their name." Estate taxes can take a big bite out of an inheritance.

Forbes reported at the time that Trump owned dozens of assets through the Donald J. Trump Revocable Trust. The outlet noted that trusts are frequently used to transfer financial assets to heirs. But the Donald J. Trump Revocable Trust only benefits one person: the 45th president of the United States. Estate tax attorney Bruce Steiner told Forbes, "It's puzzling. At death if he's given away nothing, half of it disappears."

Here's what we know about Trump's children inheriting his financial assets.

Forbes reported that Donald Trump's children don't have stakes in any of his assets, other than the Trump International Hotel in Washington, D.C. (Donald Jr, Eric, and Ivanka Trump each have a 7.5% interest in that property lease.) But it appears the hotel has been a money pit from the beginning, per financial statements released by the House Committee on Oversight.

Per Forbes, the hotel was financed for $170 million, but the Trump Organization had to sink extra cash into the property for building improvements, equipment, furniture, and operating expenses. That totaled $216 million, a whopping $46 million over the financed amount! The outlet reported that the D.C. hotel was slow to turn a profit, and the Trump Organization was forced to infuse even more money into the property. And just when it seemed the Washington D.C. hotel's situation couldn't get worse, the pandemic hit.

The coronavirus hit the Trump D.C. hotel hard, just like the rest of the hospitality industry. Losses added up, and the money the Trump Organization spent grew to $240 million by the end of 2020... $70 million over the original financing. But a bit of good news could turn things around for the three eldest Trump children. The Wall Street Journal reported that the Trump Organization is working on a deal to sell the rights to the D.C. hotel for $370 million. That would certainly be good news for Ivanka, Eric, and Donald Jr.