Succession is a major issue in farm and ranch families. Inheritance tax has made taking on the family land a liability and the lies told by the media have polluted the minds of the last 3 generations to think farm and ranch are for dumb, hayseed sucking rednecks. It isn't. It's hard work but it certainly isn't for slack-jawed yokels.

If you have land and you want to pass it down DO NOT will it to your children. Incorporate your land into another legal entity that you control, make your children officers of that entity, and then when you die it won't be inheritance. This is a very simplistic explanation but it's doable. You will need a business lawyer to execute it but I know it's worthwhile.

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