central - east central Minnesota - | Greywolf - 10/28/2010 05:17 If you are expecting to owe millions in Estate taxes, your situation should be in front of an estate attorney yesterday, not today or tomorrow. There are many alternatives to reduce/eliminate the risk exposure regardless of what Congress does. If you are relying only on Congress to set up a limit for $0 tax dollars owed, you have a lot more problems ahead of you than you realize. Just because Fed tax might be zero, what are you going to do about state tax due? MN is and has been capped at a million. I can say with certainty that an estate with a net estate of 1.25 mill will have a tax due of close to 50K in Minnesota taxes. Yes, no doubt . . . I agree fully - As you posted, there are "loop holes" to use as alternatives to reduce / eleminate the exposure . . . blaming this administration isn't one of them. Trying to make a politcal statement isn't estate planning . . . . Farmers aren't dumb, they are business, big businesses and look at business around you and the USA, they do not have estate tax problems . . . . |
Estate Taxes Aka Death tax
