Worry About Your Estate Plan, Not The Taxes

About 10 years ago, a politician asked us to find an example of a family farm in the area that had been financially wiped out because of the federal estate tax (or “death tax” as he called it). He was not pleased when we were unable to offer up such an example. Reality conflicted with the theme of his message. I’m not saying estate taxes are irrelevant, insignificant or otherwise unworthy of consideration. At a 40% tax rate, the estate tax is real and has the potential to damage or even de...