to clients throughout Central Ohio. We understand the unique challenges facing farmers and their families and tailor our service to fit our clients' individual needs. We can help you identify your goals and create a clear vision for the future of your business, and help you preserve your farm land through conservation easement. Contact us
to speak with a lawyer about your farm estate planning and get the answers you need to your questions about your business succession and asset transfer.
CONSIDERATIONS FOR FAMILY FARMS AND ESTATE PLANNING
In speaking with clients who own farms and want to provide for the future, there are similar concerns that many farm owners have when creating estate plans.
- Farm owners are concerned about entrusting their business to another person, even a relative. They are worried that the business will not be run in an acceptable manner.
- Another concern is whether the assets of a business will be able to generate income that is sufficient to support the business owner throughout his or her years of retirement.
- Other owners want to develop transition and inheritance plans that treat all of their children fairly and equitably, even those children who are not directly involved with the operation of the family business.
- Lifestyle issues such as health care decisions, living arrangements, and other concerns are also a key part of farm estate planning.
By developing a comprehensive transition plan for the farm or other family business, many of these and other potential issues can be avoided or minimized. The process can often be complicated and time-consuming, as it involves the merging of personal goals and concerns with complex financial, real estate and legal issues.
By working with an experienced attorney, however, to recognize potential problems and help you complete the process, you can feel confident about the future of your farm.
At Schulze, Howard & Cox, we can provide the counsel and representation necessary for your estate planning needs. Contact us
in Marysville, Ohio, to schedule a consultation at 937-644-3849