Transfer costs of New Mexico farm and ranch family estates

Introduction; Description of the problem; Nature and importance of estate planning; Intergeneration farm and ranch estate transfers; Inadequate estate planning; Reasons for lack of estate planning; Estate and inheritance taxes; Tax Reform Act of 1976 and Revenue Act of 1978; Source of data; Description of farms and ranches surveyed and operators' estate planning objectives; Age of farm and ranch operators; Employment status; Estate planning objectives of families interviewed; Information obtained concerning estate planning; Balance sheet of farms and ranches; Analysis of existing estates; Composition of the husbands' estates; Gross estate; Adjusted gross estate; Marital deduction; Computing the estate tax, Calculation of surviving spouse's estate and estate transfer costs; Sources of liquidity for settling farm and ranch estates; Transfer costs if the wife dies first; Conclusions; Literature cited; Appendix; AcknowledgmentBulletin containing general information on farm and ranch estate planning in New Mexico, and the results of a study to analyze the costs of transferring estates under the 1976 estate tax laws