Farm Progress is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Serving: United States

Estate planning crucial by year-end

Farmers and ranchers who have not made arrangements for estate planning should run, not walk, to their tax advisors and determine if they should transfer assets to their heirs before year-end. Failure to do so could mean millions of dollars in estate taxes to those heirs, says Rob Gunther, Frost PLLC, Little Rock, Ark.

Gunther, addressing the third annual Beef Financial Management Conference in Amarillo, Texas, last week, said Dec. 31 is a key date for estate planning. A 2010 tax reform law that allows transferring up to $5 million from one generation to another without an estate tax expires at year-end.

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish