Brain damaging land Prices

[madplotter]

What county were those sales in?

$500 rent on $15,000 land is 3.33% ROI less taxes etc, stock market been flat, and farmers love land. Land has appreciation in addition to rent. Not justifying but work with land buyers daily. Let me tell you there is A LOT of money in farmers hands from last three years profit.

Nebraska had another $25k sale and buyer was same person who held the record for a week or so last year.

I’d love a discussion on how to transfer land without facing huge inheritance taxes. LLC? Establish one on an existing holding? Guess I’m too cheap to hire an attorney, yet.


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Just went through a mess with the passing of my brother in law at 49. Made our decision to set up a revocable trust look smart.

 

[madplotter]

I've been thinking hard about that myself. I worry that if, heaven forbid, I would end up in a cursed nursing home for an extended period of time Medicaid and the State would take a very large chunk leaving little for my children and grandchildren & not a bright future for now.

I also have been an Executor 3 times and it's a pain. My sister and brother-in-law passed away over the past 3 years. No children, no will, no life insurance, very little money and a house of hoarders that took me months to clean about 3/4's of it out. All my work and effort for no reward.

As far as costs I would guess 2 to 3k?

Ours was $1700