Smart Strategies for Passing Down the Family Farm with Justin Schuhmacher (Ep. 11)
What complexities surround inheriting a family farm, and how do family dynamics influence estate planning?
Josh Ackerman hosts Justin Schuhmacher, an attorney at Indiana Estate & Elder Law, for a lively conversation about passing down the farm, a topic rich with parallels to other family businesses. The two explore real-life stories, learning how involving the next generation early can propel businesses forward, why transparency with heirs is crucial, and how strategic planning can prevent future disputes.
Key takeaways include:
- Why involving heirs early in decision-making is a smart move (15:33)
- The pitfalls of treating heirs equally vs. fairly in estate planning (22:32)
- Justin’s insights into avoiding family conflicts over inheritances (29:10)
- How trust planning can safeguard family assets and relationships (25:58)
Connect with Josh Ackerman:
- Context Financial
- josh@contextfinancial.com
- LinkedIn: Josh Ackerman
- Facebook: Context Financial, LLC
- Instagram: Context Financial
- YouTube: Context Financial
Connect Justin Schuhmacher:
About Justin Schuhmacher:
Justin Schuhmacher is a dedicated estate and elder law attorney in Indiana, committed to helping families safeguard their assets and plan for the future. Understanding that unforeseen events can disrupt even the best-laid plans, Justin works closely with clients to protect their wealth from risks such as lawsuits, long-term care costs, and financial missteps.
Podcast: Play in new window | Download | Embed