The success and continuity of family businesses are the cornerstones of the American dream. It usually starts with a married couple building a business and later adding the grown children. Part of this dream is passing a thriving business down from generation to generation. What if, however, the children do not have the same vision […]
Month: November 2020
Planning your farm legacy is a very personal process. The plan involves all your financial information, as well as all the family dynamics that go into running a family farm. Laying it all on the table and dealing with the reality of tax laws is the only way to make wise decisions for the future. […]
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Establishing Farm Family Boundaries
Living and working on a family farm is a dream for many people, but is the reality becoming a nightmare? There are many benefits to working side by side with your family, but it is also easy for boundary lines to be crossed and fences broken. It is important to keep lines of communication open […]
Creating a detailed estate plan for the family farm is an essential component to building a successful operation. There are many aspects to consider when determining how to sustain farm operations without alienating members of the family. Three common solutions for keeping harmony and assets intact include purchase options and willing the land to heirs. […]
