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“We currently have the highest estate tax exemption and the lowest intra-family interest rates in history. That combination alone is significant, but when mixed with the potential for lower estate and gift tax exemptions and depressed business valuations, you have a potent catalyst for transitioning ownership.” Anyone with a taxable estate that includes an operating […]

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“Develop a successful transition plan that will provide for you, your heirs and your business.” Most American farms or ranches are family businesses, started by one generation with the hope that the business will be transferred to the next generation. However, surveys show that only 20% of farm and ranch owners are confident they have […]

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“Having an estate plan can ensure that fiduciaries are identified to oversee and distribute your assets in the way you would have wanted. As a business owner, your ownership assets in your estate may require a more sophisticated level of planning.” Do you need an estate plan? If you have children, ownership shares in a […]

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“Coupled with the upcoming presidential election, small to mid-sized business owners are faced with a slew of financial decisions that could impact the wealth of their business and the legacy they leave to their successors.” The upcoming presidential election is giving small to mid-sized business owners concerns regarding changes in their business, business succession planning, […]

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“When you are a farmer, your business is not only your livelihood and your passion, but, often, it is also intermingled with your family life.” Planning for the end of life is intimidating for everyone, but when the plan includes a family business like a farm or ranch, things can get even more challenging. That’s […]

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“Planning for your farm’s future has never been more urgent. With one-third of United States farmers older than age 65, it’s estimated that 70% of farmland will change hands in the next 15 years.” Have you figured out who will take over the family farm? Are you or your parents prepared to transition the farm […]

couple running a bookshop

So, what happens to your business after you are gone? You have put a life’s work into developing your vision and building a successful business. What do you need now? An estate plan protects that life’s work, according to in “Estate planning tips for small business owners“. It makes sense. You’ve likely spent decades […]

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The next generation may be willing to continue. However, it is important to prepare for the legal issues. If it turns out that the next generation of a family with a farm wants to work it, you have a good start at succession. However, you will also need an estate plan to tackle that job, […]

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Tax liabilities can lead to a severe financial misstep. If you are likely to inherit the family farm, it would be wise to pay especially close attention to your estate planning attorney and CPA, according to Capital Press in “The family farm is coming to you: What’s next?“. If you receive the property as a […]

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Women should consider how to care for loved ones through an estate plan as well as themselves. Women live approximately 4.9 years longer than men. That fact should be considered in estate planning, according to the Boca Newspaper in “Smart Tips for Women: Estate Planning“. If you plan carefully, wishes for the distribution of your […]