<prompt> Human: Greetings, My in-laws own over 200 acres valued at 2.2 mil, and are getting their financials in order for when the time comes to hand the land over. How can my wife and her brother obtain the land without a 600k tax bill? The family lawyer states that the best thing to do is to place the farm into a trust, with each entity receiving a third of the controlling interest in-laws, my wife and I, and my wifes brother.Is this the best method? What are some other ways to minimize the tax implications?Thanks for the help.  <response>: The federal state tax exemption is currently 5.34 million per individual, states have their own rules exemptions. You should speak to an estate planning attorney. 