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To: pepsionice

This is why farms and ranches are now run by “corporations”.

The corporate structure solves a LOT of problems when it comes to transferring assets from one generation to the next, or between family members. The assets are all held in “trust”, and the transfers may be as little or as much as needed to avoid triggering a big “death tax” assessment.

A million dollars spread over ten years is $100,000 per year, which if extended as a gift, still cimes as less of a bite than having to sell all the assets to make one lump sum payment to the IRS.

But it is still a denial of “pursuit of happiness”.


5 posted on 11/17/2012 3:39:07 PM PST by alloysteel (Bronco Bama - the cowboy who whooped up and widened the stampede.)
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To: alloysteel

In my recent experience, a trust doesn’t really help avoid taxes, but it does speed things up by keeping you out of probate court.


9 posted on 11/17/2012 4:13:26 PM PST by Cementjungle
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