It is important to understand that transferring the family business out of your estate is a process that will take place over time. Most commonly, farming families will transfer the assets of the business through a family LLC. This process takes time and is part of life time gifting strategy that should be started with enough time before retirement or even death. The goal is to move assets out of the estate at a discounted value due to the process of transferring shares of the family LLC at a discounted value.
See Jane Fyksen, Crops Editor "Estate Planning Lays Framework For Smooth Transition," (March 29, 2012)
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