Planning for Kansas Farm & Ranch Families
Family businesses, and in particular, farm and ranch families with operating farms and ranches have a unique set of added concerns that must be addressed in order to have an estate plan in place that addresses those concerns. At the top of the list of those concerns is land ownership. Land often has a place of importance that is similar to the importance of a family member. We assist clients in understanding options to address this if continued operation by family members is the goal. This concern relating to land often involves both children who are involved in the operations and those who are not.
In addition to land related concerns, often there are machinery and equipment concerns, income tax concerns, and for those families that have a recognized operating entity, such as a Corporation or Limited Liability company, we address the concerns that exist in making all of the various entities and the estate plan truly coordinated with each other.
Often, it is appropriate to establish and implement entities to be a part of the overall plan. The establishment of a Corporation, Limited Liability Company, or Family Limited Partnership and the purposes and benefits of each need to be discussed. There is no “one size fits all.”
Another common concern is how to “protect the farm” from the possibility of nursing home and/or other long term care needs and costs. We can help.
Tim Larson has focused much of his planning over the last 25 years on Farm and Ranch Planning. Our firm has created estate plans individually tailored to the needs of Kansas farm and ranch families for over 25 years. We understand your concerns and needs. If you have any questions or concerns about your farm or ranch business or estate planning, do not hesitate to contact us. Our experience working with farm and ranch families and the approach we take to this unique area sets us apart from other firms.
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Larson and Brown has over 34 years of estate planning legal experience, but we do much more than simply practice law. We are personally invested in our community and work hard to meet the needs of individuals who seek our help. That’s why we build great relationships with our clients by providing valuable information, guidance, and support for current concerns, as well as long term planning.
We care. We listen. We counsel.
To set up a consultation and find out more about creating a legacy for your loved ones, call
(316) 729-0100 or use the follow the button below and send us an email. We look forward to working with you.