Estate Tax Deductions for Timberland
Michael Bodkin & John Whitty
PROBATE& PROPERTY MARCH/APRIL 2005 57 Personal representatives holding timberland face some unique estate tax challenges. In the southeer and western United States estates commonly contain real estate farmed for timber. Some real estate is held solely for the production of timber; other real estate is part of a farm or ranch. In either event, a persoona representative administering timberland often must establish that the decedent’s ownership and manageemen of the property constituted a business...