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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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“Estate planning strategies such as family limited partnerships and gifts to charitable trusts are part of an estate planning professional’s toolbox to achieve client goals, such as minimizing taxes, effectuating philanthropic plans, teaching younger generations about a family business and passing on wealth.” In the best-case scenario, you’d start talking with your estate planning attorney […]

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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 changes to the estate tax and the valuation discount for small businesses can be challenging. Here’s how to take advantage of them now.” Trying to anticipate changes in the tax codes is like trying to time the stock market—a nearly impossible task. Most tax pundits guessed right when they said that President Trump […]

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“No good estate plan can afford to ignore the other assets, the ones called ‘illiquid.’ That category includes anything that can’t readily be converted to cash, in a regulated market with readily determined prices.” Many people are focused on their traditional assets that generate monthly statements, like bank and investment accounts, stocks and mutual funds. […]

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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 […]

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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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Plan needs to address the owner’s personal life and the future of the business. Everyone needs an estate plan but small business owners need to take an additional step and plan for what they want to see happen to their business, according to in “Estate planning for small businesses“. Some of the steps recommended […]

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Jack Grynberg built a billion-dollar industry but faces a near total loss of assets. Denver oil tycoon Jack Grynberg placed his assets into trusts for his family to protect his wealth and now has lost a suit to retain his wealth after the family fired him, according to The Denver Post in “Denver oil tycoon […]