You can gift without losing control, but it needs to be organized properly and all the steps need to be followed diligently to avoid IRS headaches. Randy sort of touched on it. A family limited partnership. Was extremely popular back in the days before they raised the exclusions. Sort of dropped off the radar for a bit, but now I hear about it more.
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Today's Featured Article - An Old-Time Tractor Demonstration - by Kim Pratt. Sam was born in rural Kansas in 1926. His dad was a hard-working farmer and the children worked hard everyday to help ends meet. In the rural area he grew up in, the highlight of the week was Saturday when many people took a break from their work to go to town. It was on one such Saturday in the early 1940's when Sam was 16 years old that he ended up in Dennison, Kansas to watch a demonstration of a new tractor being put on by a local dealer. It was an Allis-Chalmers tractor dealership,
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