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Ranchers, farmers brace for 'death tax' impact
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071676 |
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Ranchers, farmers brace for 'death tax' impactVIDEO: [ link to www.foxnews.com] Rancher Kevin Kester works dawn to dusk, drives a 12-year-old pick-up truck and earns less than a typical bureaucrat in Washington D.C., yet the federal government considers him rich enough to pay the estate tax -- also known as the "death tax." Two decades ago, Kester paid the IRS $2 million when he inherited a 22,000-acre cattle ranch from his grandfather. Come January, the tax burden on his children will be more than $13 million. Quoting: Alexander There is a legal way around it. Put your heirs on the deed, giving them full ownership under trust. When you die, they immediately become owners without going through probate.
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