New Member in San Diego with a question!

[Jason Langmo]

Hello BiggerPockets community,

I have been a member here for a couple of months and haven't introduced myself yet.  I am new to real estate investing and have bee listening to a few podcasts for a couple months and I want to focus on multi-family investing.  My question comes from a co-worker and I thought that you all may be the best place to find answers or direction.  His in laws inherited a large ranch in northern California, it is an active ranch with multiple streams of revenue coming from the ranch.  They recently received a letter from the IRS stating that they will need to pay an inheritance tax due to the size of the inheritance. (+$5 million) The question is, what can they do in order to not pay the taxes?  I was told that they would have to pay close to 50%.  Can they sell this ranch and 1031 into something else? Or is there another course of action they can take to help lessen the blow?