Sep 15, 2017 | Blog, Estate Tax, Family Businesses, Texas
Seventh-generation cattleman Bob McKnight has faced the death tax on multiple occasions, with effects that have been exacerbated by dramatic wildfires and drought. For many farm owners, this has meant the liquidation of cattle herds or entire operations. For Mr....
Sep 12, 2017 | Blog, Estate Tax, Family Businesses, Wisconsin
When Tom and Leslyn Jacobs first got married, buying land was simply a dream. Indeed, they were both young foresters saddled with college loans and old vehicles. However, in 1984, their dream became a reality when they received a $40,000 loan to buy 80 acres of land....
Sep 11, 2017 | Estate Tax, Family Businesses, Illinois
In 1973, Karen Madonia’s father purchased Illco, a Chicago-based distributor of parts and supplies for heating, ventilation, air conditioning, and refrigeration equipment. Although the company now has 97 employees in 3 different states and generates $42 million in...
Sep 3, 2017 | Blog, Estate Tax
The federal unified transfer tax on estates, gifts, and generation-skipping transfers may appear to be attacks born solely by the wealthiest Americans. This view, however, is as misleading as the notion that the sun rises in the East and sets in the west. The transfer...
Sep 3, 2017 | Blog, Estate Tax, Family Businesses
Support for the estate tax is based on three major claims. One, inheritance is are a major source of wealth and equity. Two, the tax provide significant revenue for the federal government. Three, the individuals required to pay the tax can easily afford it. These are,...
Sep 1, 2017 | Blog, California, Estate Tax, Estate Tax Horror Stories
Our beloved 101 “acre California farm-my small family’s one asset- has been in my family since 1942, when it was purchased by my great uncle. It has been planted In crops of many kinds, worked first by my uncle and then by my father, who earned a very...
