A humorous take on how families pass on businesses, such as family farms, is reflected in this quip: Avenge your children; give them equal shares in your business. Certainly, what can seem like a generous, wonderful thing can be rife with conflict and imbalance, if you don't take steps to implement the appropriate legal framework.

Landowners, ranchers, and farmers face unique challenges surrounding how to preserve the family farm; a symbol of their heritage. This report focuses on the legal and management issues of managing the family farm, and steps you can take to ensure the smooth transition from generation to generation with ease and accuracy.

Click below to learn more about how to manage the family farm (and the buy-sell agreement) from the following sections:

• Planning Is Key
• What Is A Buy-Sell Agreement?
• Who Has Controlling Ownership?
• What Are Buy-Sell Triggers?
• Pricing The Farm
• Succession Plan Elements
• Estate Tax Payment Rules
• Protecting Your Family Farm