If You're Planning to Sell Your Ranch or Farm, the Sooner You Begin to Consider the Tax Consequences, the Better
"When you sell your property through a charitable remainder trust you are essentially giving away the Golden Goose but reserving the right to the Golden Eggs it lays for the rest of your life." - Chris Nolt
For self-sufficient ranchers and farmers, it’s often difficult to accept that when it comes to selling their properties, they require outside help.
The tax and investment-planning aspects of a rural property sale are so complex that even the best experts in the real estate profession readily acknowledge that optimizing the sale requires a team of specialists.
Chris Nolt, the author of Financial Strategies for Selling a Farm or Ranch, provides an excellent overview of the issues involved in completing the successful sale of a ranch or farm, and of the tax traps that many unprepared property sellers fall into.