We can help you determine what type of business structure will work best for your farm. We will help you set up the business entity and form the agreements necessary to run your business. We can also help you transfer your business to other family members or to an outside buyer..
Succession planning is establishing a plan for the transfer of the assets, income, and management to the next generation through a combination of estate planning, business planning, leases and other tools. A good succession plan provides the best chance for passing on a viable and profitable business to future generations. Our understanding of farms and farm families allows us to develop and implement plans that are customized to meet the specific and unique needs of each of our farm clients.
Estate planning determines how your assets will be distributed upon your death. It is important to alleviate confusion and stress for those you leave behind. Estate planning can be especially important for farm families who are moving their family business to the next generation and looking to minimize estate tax. We can review your current estate planning documents or draft new documents for you.
We help families with all of the work necessary to settle the estate after the passing of a loved one. This often involves determining all of the assets, filing the final tax return, and transferring title on property to the heirs and beneficiaries. We work closely with the executor or trustee to ensure that the provisions of the will or trust are followed, estate taxes are minimized, and administration is done in a timely and efficient manner.