Transitioning or Selling the Farm
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. Alternatively, you may wish to sell the farm altogether so that you can spend more time doing exactly what you love throughout retirement. Regardless of your path, it’s helpful to understand there are strategies to minimize your tax liability and maximize your wealth.
We’ve attached two articles on transitioning the farm to your family as well as selling the farm. In either case, there are plenty of things to consider as every situation is uniquely different and that’s where a qualified advisor can help.
Transferring Your Farm to the Family
The Family Farm and Will Planning
Please contact us for more information about the topics discussed in these articles.