Your Challenge
Consider a fourth-generation farmer running a thriving almond and pistachio operation in California.
With one child deeply involved in the farm and another pursuing a career in the city, you could be facing the challenge of fairly distributing assets while securing your farm’s future.
Overwhelmed by the complexities of succession planning—from valuing the farm to addressing tax implications—you might worry that without a clear strategy, your family may face discord and your farm’s legacy could be at risk.
The Voyager Approach
We would partner with the farmer to conduct a thorough financial and operational review. This process would include a detailed valuation of the farm to establish its worth and collaboration with your accountant and estate planning attorney to develop a tax-efficient strategy for transferring ownership. Our goal would be to create a succession plan that enables your farming child to take over operations while ensuring equitable support for your other child.
Additionally, we would work to maintain the farm’s long-term profitability through diversification and risk management strategies. By tailoring a plan to your unique circumstances and goals, we would attempt to help you move forward with confidence, knowing your legacy would endure for generations to come.
This case study is for illustrative purposes only. Individual cases will vary. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Prior to making any investment decision, you should consult with your financial advisor about your individual situation.
Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional. Investing involves risk and you may incur a profit or loss regardless of strategy settled, including diversification and asset allocation.
