The Tax Cuts and Jobs Act significantly increased the federal estate and gift tax exemption, making it a non-issue for practically all farming and ranching operations.
However, business succession planning remains as important as ever for some producers.
Roger McEowen with the Washburn School of Law spoke with RFD-TV’s own Janet Adkison on GRAT and its advantages and disadvantages.
Related:
IDGT is a good tool when it comes to passing down large estates
Ag CPA on potential changes to estate tax
Play Video AFBF on legislation to eliminate the estate tax
Farmers need to keep “earning tests” in mind when preparing for retirement