The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Paul is now part of the fourth generation in America that is involved in farming and hopes the next generation will be involved also. Through his blog he provides analysis and insight to farmer tax questions.
I came across an article put out by the Center on Budget and Policy Priorities from Washington DC. The gist of the article was that having an unlimed estate tax exemption for farm estates is unnecessary and likely harmful. The focus of the article is that this policy would create 3 harmful situations:
Remember that these are their conclusions, not necessarily mine.
My comments are as follows:
My personal opinion is that I would like to see an estate tax exemption in the $3.5 to $5 million range for each spouse and allow this exemption to be combined in any manner that the family chooses. We will most likely see a new estate law sometime in the next year or so, but who really knows what it will look like.
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