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Central Virginia | Instead of any individuals owning the land or business put it all into a LLC or corporation. Individuals can own portions of the entity and it can be bought/sold/gifted in any increment. Instead of the younger generation having to buy a whole farm at a time, they could buy $100k interest in the entity. The operating agreement for the entity can determine who can be members and what can be sold or bought. That can also be changed anytime by the members. If the goal is for the business to survive past your generation, then you don't want to divide it up. You're kids don't have to get anything and shouldn't expect to get an inheritance. If you want the farm to continue, try to transfer everything before you die Instead of trying to rule from the grave.
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How to wrap my head around generational transitions/equity?
