Posted by JMS/.MN on December 20, 2012 at 19:46:50 from (209.237.125.241):
In Reply to: Another estate question posted by rockyridgefarm on December 20, 2012 at 17:15:54:
You do have a will- unfortunately, your State wrote it! Unless you and mrs write one, the State dictates distribution of your assets. You talk about 400 acres of land...with today's land prices, if you have 200 acres or more, you have an estate problem, given the Federal rules. Worse after New Year's! We set up a revocable trust last year, says how the farm succession works....couple grand to set it up, saves the 6 kids way more in tax issues when we are gone.
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