Why planning is important

Often times, tax implications are not considered when planning the transfer of your business and assets. It is important to consider the following: 

• Goals – What are the benefits to the next generation? You want to create a financial plan that benefits them, not burdens them. 
• Establish a Strategy – Do you have a strategy established? Are all the parties involved aware of the strategy and do they understand it?  
• Proper funding – Do you have proper funding for the strategy in place to enable a smooth transition? 
• Tax Implications – Does your strategy include IRAs, annuities, or other tax-deferred investments? 

How can it benefit you?  

Farms and ranches can be complex and the sooner a plan is in motion, the more organized the process will be when the time comes. This can be a stressful process, but we want to help you to avoid as many pitfalls along the way as possible. In addition, we would like to identify possible hinderances to your plan that you may not be aware of.  

Click here for more information on Dedicated Planning Services.