Farms and the lifetime capital gains exemption
Your farm may be your most valuable asset and you may rely upon it to fund your retirement and achieve your other financial goals. If you decide to sell your farm, you may be able to take advantage of the lifetime capital gains exemption (LCGE) regardless of how you have structured the ownership of your farm. Read more about the lifetime capital gains exemption here.
Transferring your farm to the family
Your farm may be your most valuable asset and you may rely on it to fund your retirement and achieve your other financial goals. You may decide to pass your farm to your spouse or children during your lifetime so that they can continue operating what you've built. When doing so, it is helpful to understand there are strategies to minimize your tax liability and maximize your wealth. Read more about transferring your farm to your family here.
For more information on this and other farm wealth management services, please contact our office directly at 519-822-2024 or email email@example.com.