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NW IL | I'm not up on all the inheritance vehicles, but how is step up basis handled if the land is in a trust that is handed down? Or a separate corp or entity for that matter? I know we like to see the land in our name for balance sheet reasons, but I'd think you could still pledge as collateral if needed.
Is there a way to form a non for profit with owned land, "pay rent" into it then pay yourself as the manager of the nfp? Could even have grain checks made to that org, then distribute to church, etc tax free. Then the next generation takes control of that org when you die...?
It seems like you can always find loop holes if you get creative enough. (Not saying I'm in favor of the dnc proposal, and often these champaign talking points die early deaths, just thinking of ways around it if I ever happened.) | |
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