The death of generational wealth and the family owned farm
I am not 100% sure on the tax implications, but I would put everything into a trust and put my heirs as owners of the trust upon my death, basically transfer ownership before death....
“...and the family owned farm”
The corner store and any other sole owner or family business.
“ The death of generational wealth and the family owned farm”.
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Not just family farms; basically anything tangible, small businesses, capital equipment, RMD’s. This will not be just the rich that will be hit it will be on anyone that worked a life time building and saving.
Meanwhile there are foundations that shelter their money.