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Central Indiana | Stay away from corps of any kind. Shares might be worth 1000 now then in 50 years when someone has to buy them to get rid of them they’ll be worth 10k. IMO no farm should be in a corporation unless for legal protection and that’s a very poor excuse at best. I’m stuck buying shares from family and my boy if he decides to farm will be buying them as well. Eats up all the profit on good years 2020-2023 and really squeezes on bad years 2024-? It’s not as simple as signing anything over to another holder usually. Shares can’t disappear out of thin air unless the corporation owns all of them at all times. Any that get distributed out to family or whoever at the time of someone’s passing must be bought and put back in the corporations control. I would get not 1 or 2 but 3 opinions from CPAs, attorneys, financial advisors, etc. and beware attorneys love corporations because everything gets so complex anytime you have a question or need something done….$$$$$$$ | |
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