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South central Minnesota | I have no doubt that you have looked at what is allowed under federal gifting and estate tax let along your state which is zero if it's direct descendant unlike Minnesota. I would recommend anyone that wants to keep their estate intact to be passed down should spend some time discussing it with a tax consultant/ lawyer versed in the laws for both federal and their state. It's too easy to put it off thinking we hopefully have a long life for both you and your spouse but unfortunately the inevitable can happen anytime and it's better to have a plan in place no matter what your age. Estates have increased in value so much in the last few years that many now have to worry about federal let alone some states inheritance or estate tax. | |
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Land prices
