Posted 12/5/2012 12:02 (#2734262 - in reply to #2734097) Subject: RE: Thoughts on all the talk/complaining about taxes/estate tax on here.
SE Ia
I'm not sure I understand how you can avoid the death tax with a trust. Our estate lawyer was supposed to be an expert on trusts, it was my understanding the trust was setup to avoid probate. The deceased share of the farm was less than todays exemption, the estate/trust didn't owe inheritance taxes. The basis was reestablished and future capital gains would now be figured using the new basis. Maybe I misunderstood what the trust was designed to do.
Thoughts on all the talk/complaining about taxes/estate tax on here.
