Posted by jackinok on December 12, 2012 at 07:58:22 from (162.58.82.136):
In Reply to: Death and Taxes. posted by Ultradog MN on December 12, 2012 at 07:31:47:
Yep, but there have been ways around it that if gov doesnt meddle with could save most of them. One very simple way is a trust. Has to be setup before you die,of course. Basically the trust owns the farm,whoever the operator is is paid by the trust. Since it doesnt technicaly change ownership,theres no inheritance or so called death taxes. Sort of like when a employee dies. Thats how estates are passed down for generations. Theres no guarantee gov wont somehow mess with these setups in the future ,but at the current time its about the best way to guarantee a estate. I STRONGLY urge you to check into it, if your goal is to keep a farm or estate intact for your children. very simple to do ,and in my opinion its the best option currently.
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