Cal McCastain Comments on Estate Planning for Farmers

When the Tax Cuts and Jobs Act went into effect on January 1, 2018, Congress doubled the estate tax exemption levels to $22.4 million per married couple.

Dover Dixon Horne member Cal McCastlain told DTN Farm Business that before 2018, it didn’t take “a lot of real estate to be exposed to estate taxes, and so there was a lot of incentive to gift portions of that real estate, or the company that owned real estate, in order to reduce this taxable estate.” [More]