TodayÂ Mike talks with asset protection and tax specialists about the upcoming tax increases and how many small businessmen and farmers will be drastically affected. Â Tax Attorney Christopher Braun will discuss the imminent need for tax planning by yearÂs end to save family farms from destruction as early as next year. Â With the estate tax set to come roaring back in at the $1,000,000 level, there will be economic devastation as sons and daughters of small farmers across the nation have to sell the family heirloom to raise cash to pay the estate tax. Â In a real life example, Chris tells of a hard working farm family in North Dakota who have a farm worth about $3M, who when their aging father passes, will have to pay about $1M in taxes, cash they donÂt have. Â They're not rich, just hard working Americans who are blessed with a farm their dad inherited from his father, and his grandfather before that. Chris is helping them with some tax planning this year, in the next 6 weeks actually, that will allow them to keep the family farm in the family for generations to come.
In the second half of the hour, Mike then talks with Trevor Bradley from Georgetown Trust and Wayne Kurtz from Karlsberg Insurance their products and services and how some folks are finding it prudent to move assets offshore. Â Join Mike and his guests for a spirited discussion about some critically important and timely topics. Â Listen to the show here. Show airs every Tuesday from 2pm Â 3 pm EST