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Family Farm Succession Planning

Indiana Farm Succession Planning Attorney

Since our establishment, we have seen many changes in the landscape of Carmel, Indianapolis, and the surrounding areas. Many formerly rural areas are becoming suburban and urban areas. Though we provide representation to clients from all areas, the attorneys at Knowles & Associates P.C. are sensitive to the estate planning needs of individuals and families that remain in the rural farming communities.

Family farm business clients are facing a variety of challenges. Planning for the future of your farm is one of these challenges. As a member of a farming family, Bill Knowles understands these challenges and the difficult choices involved. Our firm is highly experienced at addressing the questions you may have regarding the possibilities for maintaining family control of the farm for future generations.

  • One possibility is incorporating the farm or putting the farm in a LLC. By doing this you can transfer ownership to your children and give them the non-voting interests. You can still retain the voting interests and maintain control of the business.
  • Our Indianapolis law firm can also help you establish strategies for passing on the farm in its entirety to some or all children or grandchildren. This can be done in conjunction and coordination with other estate planning techniques, such as the establishment of a trust or creation of a will.
  • In addition to farm succession planning and discussing the possibility of incorporation, many of our farming clients have questions regarding gifting, minority intrests and/ or lack of marketability discounts. We are knowledgeable with these types of issues and can help you determine the best way in which to address these issues after assessing your situation and goals.

Contact a farm succession planning lawyer at Knowles & Associates P.C. today to learn how we may be able to help you protect your farm for the future. Initial consultation is offered so you can discuss your questions and concerns personally with a member of our firm.

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