NEWS
A Valuable Transition Tool
Fri Sep 26, 2014 02:26 PM CDT

In agriculture, where the predominant asset is usually the land, estate planners often recommend creating business entities like a family limited partnership (FLP) to own the property. The move makes the transition of those assets from one generation to the next smoother.

"Farm owners don't want to find themselves in a position to leverage or sell their land to pay taxes," says Joel Green, an attorney with Sandberg Phoenix and Von Gontard P.C., in St. Louis, Mo., who specializes in estate and succession planning. "Transfers occur with shares of the partnership or shares ...

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