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Ask the Taxman by Andy Biebl
Andy Biebl DTN Tax Columnist
Wed May 22, 2013 06:21 AM CDT

DTN Tax Columnist Andy Biebl is a CPA and tax partner with the accounting firm of CliftonLarsonAllen LLP in Minneapolis, Minn., and a national authority on agricultural taxation. To pose questions for upcoming columns, email AskAndy@dtn.com.

QUESTION:

We are in the process of doing estate planning. We are in our mid-60s and have two sons who are married. We are residents of South Dakota and our assets are worth approximately $8 million, with the farm land about $5 million of that total. Our attorney is proposing a Revocable Trust for each of us, but is also proposing a Dynasty ...

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