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| There is an easy way around the death tax that many advisors recommend, but it can be a little spendy and unnerving for the squemish.
Its life insurance which is never taxable in any form. So you stand to inherit the family farm and you guestimate your inheritance tax bill at 1 mil. You take out a $1 mil policy to be paid when the last parent dies. It should cost around $20K/year so if you pay 10 years you've paid off a $1 mil bill with $200K.
I know more than one individual carrying life insurance on a parent just to protect the farm. | |
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Season for greedy American heirs.
