Скачать или смотреть Preserving the Family Farm with Trusts and LLCs in Illinois | Woods & Bates, P.C.

How can you preserve your family farm for future generations?

In this in-depth video, Woods & Bates, P.C. walks you through the crucial steps of preserving your family farm using trusts and LLCs. Discover practical strategies to protect your farm's legacy, avoid costly estate taxes, and streamline the transfer process.

🔗 Highlights:

00:00 – Introduction to Preserving the Family Farm
00:45 – Understanding Estate Planning & Defining Your Estate
02:17 – Will-Based Estate Planning vs. Trust-Based Estate Planning
05:14 – Avoiding Probate and Ensuring Privacy with Trusts
10:45 – Trusts, Wills, and Ownership in Family Farm Planning
14:41 – Advantages of LLCs in Family Farm Preservation
18:22 – Gifting, Estate Taxes, and Medicaid Eligibility Considerations
22:42 – Illinois Estate Tax & Federal Estate Tax Implications
28:35 – LLC Structure & Gifting to Heirs for Tax Savings
31:38 – Tailoring Estate Planning to Meet Your Family's Needs

If you're looking for ways to ensure that your farm remains in the family without the burden of taxes or conflict, this video is a must-watch!

As the preeminent rural estate planning law firm in Central Illinois, our estate planning attorneys at Woods & Bates, P.C. draw on decades of experience. Our firm focuses our practice on estate and trust administration, estate planning, and real estate matters. Contact us today at (217) 735-1234 or visit our website at https://woodsandbates.com/.

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