Nebraska
OK, I eventually stand to inhearit some land.
My parents did some estate planning. I asked them about it and they said at the time they did it, the value of the land was under the limit of where I would have to pay sizeable amount of inhearitents tax. This was indicated by their lawyer.
This was done roughly about 10 years ago. The value has increased. It is 800 acres. With the Bush tax cuts in place yet??????????????????????? I would like to know what that cap is on the land value, and if thats safe enough now days?
They delt with a lawyer at that time and Im sure it was correct then. Just wondering if it has changed any law wise, or if the value of that land would be over that limit. Apx. value of it is roughly $650K
Thanks in advance.
OK, I eventually stand to inhearit some land.
My parents did some estate planning. I asked them about it and they said at the time they did it, the value of the land was under the limit of where I would have to pay sizeable amount of inhearitents tax. This was indicated by their lawyer.
This was done roughly about 10 years ago. The value has increased. It is 800 acres. With the Bush tax cuts in place yet??????????????????????? I would like to know what that cap is on the land value, and if thats safe enough now days?
They delt with a lawyer at that time and Im sure it was correct then. Just wondering if it has changed any law wise, or if the value of that land would be over that limit. Apx. value of it is roughly $650K
Thanks in advance.
Last edited: