Farm estate planning – Estate Planning – Estate Taxes

February 1st, 2008

Tip! An essential feature of this preparation is the planning of one’s estate. Estate planning is foremost judicious step in securing your family’s future and also to fulfill your desires after you depart from the world.

Estate tax, or the death tax as it is sometimes referred to, is an issue often bandied about at election time. If the innuendoes of the sound bites are to be believed, the instant someone dies, the government collects a huge amount of tax from the estate just as a general principle. The specter of estate tax is looming in the corner of every hospital room in America, or so goes the story, waiting to deprive widows of their husbands’ hard-earned pensions and children of their college funds, if Mr. X is not elected to Congress or the White House.

While it is true that a decrease in estate tax benefits the wealthiest two percent of Americans, it is also true that only the wealthiest two percent of Americans are subject to estate tax to begin with

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