Illinois Farm Bureau is asking all Farm Bureau members to contact your legislators regarding the Farm Family Preservation Act. Lawmakers are continuing budget negotiations and are strongly considering including the Family Farm Preservation Act in the budget. BUT THEY NEED TO HEAR FROM OUR MEMBERS! To Contact your legislators, click HERE follow the prompts from there. If you have questions or need help, please call our office at 815-232-3186.
Why is the FFPA important?
Depending on the asset makeup of your estate, if your individual estate is valued at $10.5 million, current estate taxes could be over $800,000. Under the FFPA, your liability could be reduced to ZERO.
- The FFPA helps ensure that families don't have to worry about selling part or all of the farm to cover their estate tax bill.
- Family farms can stay with the family.
