Maryland Eases Estate Tax Burden on Family Farms: The Family Farm Preservation Act of 2012

By Lucy P. Kiernan

The Family Farm Preservation Act of 2012 creates a Maryland estate tax exemption for family farms passing at death that will continue to be run as farming operations by the recipient of the property. The law provides some new definitions including "Qualified Recipient" and "Qualified Agricultural Property." A "Qualified Recipient" is defined as "an individual who enters into an agreement to use the Qualified Agricultural Property for farming purposes." "Qualified Agricultural Property" is defined as "real or personal property that is used primarily for farming purposes."

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