Ep. 125 - Where to Start Farm Succession Planing and Where Life Insurance Fits
Where do you actually start with farm succession planning, and who can you insure to protect the plan?
Part 2 of 6 of Keeping the Farm or Ranch Together.
Former tax lawyer Bryan McNulty says planning usually starts with two questions: can the operation run more tax-efficiently, and how will it eventually be passed on, sold or transitioned?
Before you meet your accountant or lawyer, take stock of what you own, why it's structured that way, who's involved, what season of life you're in and where you want things to go. It also means thinking honestly about what could happen, from children…
The skinny
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