1 research outputs found
Land/enterprise and ownership transfer
YOUR ESTATE PLAN MAY BETHE DEATH OF YOU YETI!!!
*****The average age of America\u27s farmers and ranchers is SS
*****There are twice as many farmers over the age of 6S as under the age of 35
*** **Half of agricultural land is owned by folks older than 75
*****69% want to pass their farms or ranches on to their children
*****Only 3-5% of farm and ranch families in Colorado have a complete estate plan
*****The Family Farm Institute reports that only a third of all family businesses succeed in the second generation and a mere 15% survive to the third and 5% make it to the fourth.
*****Statistics indicate the number of cattle operations has declined 20 percent since 1981 *****As inflation rises and land values go up, more land and livestock are needed to support a family
*****AGRICULTURE SHOULD BE PUSHING FOR INFLATION INDEXING. To tax the full capital gain is wrong, because much of the value is the result of inflation.
*****The Death Tax is a government seizure of family owned and operated businesses
*****By splitting up and destroying viable farming and ranching operations, the death tax erodes the base of the rural economy
*****The death tax accounts for only 1 per cent of federal revenues
*****Research indicates that: 42% of the first generation farm families have not discussed the subject of farm succession with their spouses; 63% of the first generation have not discussed succession with the second generation (their own children). Only 16% had included the son or daughter in conversations about succession. Most older generation farmers and ranchers, surveyed, indicated that tithe farm would be the source of their retirement income