Farm Credit East Senior Tax Consultant, Dario Arezzo, explains the benefit of an Intentionally Defective Grantor Trust for estate planning and generational transfer purposes, as well as the tax implications.
If you are not taking full advantage of the beneficial provisions the tax code provides, you may be overpaying your tax bill. Farm Credit East tax consultant Dario Arezzo gives readers examples of tax provisions that may be overlooked if a tax preparer isn’t well-versed in the business of agriculture.
A previous Tax Talks post discussed how individuals can pass away with over $11.4 million worth of assets federally. The post also covered the benefits of passing assets through the estate process. This led some astute observers to ask about deathbed transfers, which is the topic of this post.