Posted 3/29/2024 12:38 (#10685463 - in reply to #10684821) Subject: RE: How to wrap my head around generational transitions/equity?
Kingdom of Callaway - Fulton, Mo 65251
anotherwindyday - 3/28/2024 22:03
olivetroad - 3/28/2024 10:20
My great uncle's and uncle put all the land and business in a corporation in 1963. The Corp owns everything. Shares can be gifted, sold, inherited, etc through the years, but the farm stays intact. Accountants and attorneys will tell you lots of reasons not to do that, but it holds it together.....
That sounds like a nightmare myself.
Without going into details, it has proven to be the wisest thing they could have done. It has survived the deaths at different times of six different shareholders. If they had split the business and farm ownership up individually instead of shares of stock, there would be very little chance to keep it together.
How to wrap my head around generational transitions/equity?
