Legacy Planning For Landowners

Farmers are unique in that often land is their largest asset. Common objectives are transferring land to family, equalization for children not in the business and freezing, reducing or eliminating tax consequences. There are eighteen ways to sell or transfer a business. Every decision involves income, equity and control. Each of these creates a different tax consequence. How much are you prepared to give up of these three? Can you afford to give up some or all? The presentation will cover decisions that must be made prior to choosing a path for transfer of your business as well as some of the most popular strategies for sale or transfer. For farmers with “non-farm heirs” we will cover equalization techniques to address the question “Is fair always equal?”