It was a pleasure to be interviewed for this Syngenta Thrive article speaking on an issue near and dear to my heart- farm succession and estate planning. You can read more articles in the Thrive magazine here.
Preserving Your Money and Property Beyond the Third Generation
Whether you have inherited your wealth or have built it yourself, you likely want to share this wealth with the next generation and beyond. The quotation “shirtsleeves to shirtsleeves in three generations” has often been attributed to Andrew Carnegie. The same concept has been echoed by other people and various cultures, with the underlying notion being that the first generation …
Fears When Talking about Money
Studies[1] have shown that the largest contributing factors to generational loss of wealth are a lack of communication and trust among family members and the failure to prepare heirs.[2] Often, fear is what underlies the lack of communication and trust that inevitably leads to unprepared heirs. Following are some of the fears that prevent people from communicating with their loved …
Why Is My Trust So Long?
When you met with an attorney a few weeks ago, perhaps all you expected was a simple will. Maybe you thought that, with your situation, the work should be easy and the documents should be few. But now that you have finished working with the attorney, your parting gift is a large binder filled with hundreds of pages. You may …
Ask Cari: Q & A on Farm/Ranch Estate and Succession Plan
How can the property and finances be split if a succession plan is Not in place? If you don’t have a plan in writing with a Last Will and Testament, Trust and/or business formation documents (e.g., Operating Agreement or Bylaws) then the law will decide for you. Everybody has an estate plan- it’s what the “default rules” are in your …
What Happens to a Limited Liability Company After a Member Dies?
Death is almost always a complicated event for the survivors, who have not only emotional but also logistical considerations to manage. However, when an owner (typically called a member) of a limited liability company (LLC) dies, it exacerbates the difficulties for the surviving members. In addition to bearing the loss, they must determine whether the LLC can or even should …
3 Minute Survey on Farm Estate Planning
I am working on a video series on farm estate, business and succession planning. I would like to get a better feel for what is actually happening in this arena in agriculture. I have a quick 26 question survey on the topic and it would mean a lot to me if you would take a few minutes to answer these …
Ag Law Today: Estate Planning While Keeping USDA Federal Farm Programs in Mind
Excited about this episode of Ag Law Today featuring our very own Stephanie Bradley Fryer, our Texas Of Counsel attorney. We are talking farm estate planning and its effects on USDA federal farm programs — a combo discussion that you won’t want to miss. Don’t forget to subscribe on YouTube or iTunes!
