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North Central IL | Your family needs to hire a very experienced attorney. He should utilize gifting and trusts. There are several methods to get the taxable value of the estate down. Reduced land valuations can apply if you're an active farmer and continue farming those parcels for 10 years (last I knew). You can take advantage of every possible method and still owe Uncle Sam, and some on this site will assume you're stupid and that you didn't do your homework. | |
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Inheritance tax on Farmland ?
