Dear Michael: We are under the impression that the “Big, Beautiful Tax Bill” gave us a break on our estate taxes as well as new gifting limits. How much more can we pass on this year, without incurring gift taxes and/or estate taxes? We are thinking about gifting some farmland to our children, as they can certainly use it for their farm operation, and we don’t need the income from it. – In a Gifting Frame of Mind.
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Michael Baron provides estate planning guidance at Great Plains Diversified Services in Bismarck, North Dakota. Email him at KeeptheFamilyFarm@gmail.com.





