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East Central SD | I am NOT a fan of life insurance for estate planning. Millionaires should not be buying life insurance. Also, a farming heir should never have to repurchase the land from family.
The farming operation needs to be separated from the land. Land can be left as a single entity with multiple owners. It should not be divided up. Heirs are entitled to INCOME from the entity but nothing more. None of the heirs should think of themselves as being entitled to the asset. Pay a fair cash rent and you are good to go. | |
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