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, Mon, 10 Jul 2006 22:52:53
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Hopefully, you can discuss things with the other 2 siblings.
The potential problem is if things are divided equally, the guy who runs the farm or the business will thing "hey, I'm doing all the work and the other two are just getting the checks"
Possible solutions include 1/3 share of the business and the guy who runs it gets a salary.
One guy could own 75% of the business (instead of 1/3 or 2/3) and the daughter owns 25%. The other guy could own 75% of the farm and the daughter 25%. Or to spread the risk of a failed farm or business, one guy could own 51% of the farm, the other son 51% of the business, and the 49% would be split equally between the guy who doesn't run it and the daughter.
Or is the business on the farm? If so, maybe the guy who runs the farm initially gets 33% and the right to buy from the others either up to 51% or the full 100%. In the interim, the guy who runs the farm is entitled to a management fee/salary.
Another way is for the Ohio son to establish that he will take care of the parents in case of Alzheimer's Disease, stroke, paralysis, etc. In return, he gets 51% of the business and the other assets, like stocks, insurance proceeds, etc. is divided 33% or divided among the remaining 2 kids.
Then there is estate planning. The inheritance t-x goes away in 2010. In 2011, it is increasing to 55% because the current l-w expires. One par-tie (can't say which or saabnet will block it) want it this way (55%). The other want it at 0%. aT 55%, it would be higher than nearly every country in the developed world, much higher than Sweden (which is 0%). There is a compromise bill in the H-use for $5M free of t-x, 5-25M at 15% (subject to possible increases to 20%) and 30% (possible increases to 40%) on over 25M. However, many cen-a-tors are opposed to it.
posted by 24.215.177...
, Mon, 10 Jul 2006 22:52:53
, Tue, 11 Jul 2006 14:32:11, Tue, 11 Jul 2006 14:41:26
, Tue, 11 Jul 2006 07:48:22
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