Posted 2/21/2021 09:33 (#8848249 - in reply to #8845435) Subject: RE: What business structure to put farm in
Similar situation here too. One son who is 8, he loves farming for now.
We set up a trust, everything is spelled out in that. If my wife and I die we have his guardians laid out in that and he won’t get everything we have until he’s 25. Hopefully he will be mature enough by then to invest it better than loud trucks and other poor investments.
Farm is set up as an LLC, we have a separate seed dealership also set up in its own LLC.