Oct. 15, 2010

Through estate planning a married couple can effectively double the amount their heirs inherit tax-free by spliting the estate between both parents. Each parent would leave their half of the estate to the kids rather than to each other. A simplified approach would be for Mom and Dad to put the farm into a limited liability company (LLC), and give each parent half of the LLC.

Learn more about this and related estate tax issues in this week's Cornhusker Economics article by Extension Agricultural Law Specialist David Aiken. Previous issues of  Cornhusker Economics, published by UNL's Department of Agricultural Economics, are available at http://www.agecon.unl.edu/Cornhuskereconomics.html.