The Federal Estate Tax and Gift Tax- 2011, 2012 and Beyond
By: C. Timothy Lindstrom
It is important to understand the impacts of the federal estate tax and gift tax as you transfer your family farm, ranch, or forest land. This article provides a good overview of the gift and estate tax and describes some tools you can use to minimize or even eliminate the amount of taxes due when you transfer your family farm, ranch, or forest land. With a good succession plan, you can rest assured knowing that your heirs will be able to continue to manage your legacy land and will not be forced to sell the land to developers.
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