Top 10 Concerns of Independent Farmers and Ranchers
- Succession planning for farm
- Unintentionally disinheriting heirs
- Equitable distribution of wealth among heirs, especially to those who may not work in the farm.
- Reducing and avoiding taxes
- Business Issues/Weather/Crop Failure
- Being “Land Rich, Cash Poor”
- Health care costs, caring for parents, long term care and disability
- Not understanding how the estate tax works
- How to fund a significant estate tax liability
- Leaving a legacy—70% of family wealth transfers fail within 3 generations