Matters of Tax for Landowner Succession Planning
By: Matthew Von Schuch
Taxes are an important part of succession planning for landowners who intend to keep their land in the family. There are principally two types of taxes that landowners and their advisors must consider in the developing a succession plan: income taxes and gift and estate taxes. These taxes will be imposed on either the sale, gifting, or inheritance of the principal part of a landowner’s legacy: his land. Below you will find answers to some of the more frequent questions landowners have about planning for these two types of taxes.
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