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Managing an Inheritance

by Brian Smith

An inheritance in the form of cash, real property, jewelry or stocks can enrich your life in many ways. Oftentimes, bequests from an estate are intended to help move the heir forward financially, or to keep a prized possession within the family. To fully realize the value of an inheritance, consider how the assets affect your overall financial plan.Last Will and Testament

The key to successfully managing any inheritance is to plan before you act. Certain types of inheritances may require you to make some decisions right away, but it’s crucial to be conservative in your actions and allow yourself some time to grieve. Then, work with financial advisors to maximize the value of your inheritance and decide whether to keep it, share it, invest it or liquidate it. Your options depend on your personal and financial circumstances, long-term goals and the type of inheritance involved.

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Financial Planning for a Family Farm

by Megan Spain

Family farms are a quintessential piece of the American landscape both past and present. However, the family farm is at great risk of disappearing. Half of all the farmland in the US is owned by farmers over the age of 55, and there aren’t enough new farmers entering the field.¹Family Farm

Often these family farm properties are swept up by commercial agricultural operations at the time of sale further endangering small farms. The business of running a profitable farm is more complex than ever, especially for new farmers.

I believe that now, more than ever, there is a growing demand for financial planners who are well versed in the business of running a farm. A financial advisor can help family farms navigate changing and complex tax laws, manage and increase personal wealth and retirement savings, as well as protect the legacy of the farm with estate planning.

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