Estate Planning: A Complex Process of Critical Importance to Ranches
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Generally, estate planning involves the decision onto what kind of will be written or to be calculated for potential estate taxes. However, it is an ongoing process that can affect how and when to buy property, how to structure land and bank account titles, and how to organize and structure the business. Estate planning has its own goals which include: a)on how to achieve the desired usage of assets after one's death; b)on minimizing transfer taxes; c)on providing for the management of property after death for loved ones; and d)to prevent family conflicts after one's death. An important aspect of estate planning is that it revolves around the wishes of those making the plan which are both during one's lifetime and after one's death. Estate planning has several processes in it which includes: identifying the goals; on passing the property; the tax pictures; and finally some other considerations.
author list (cited authors)
Hayenga, W. A., & Wilson, C.
complete list of authors
Hayenga, Wayne A||Wilson, Conner