Farm Credit of Western New York: Notebook: Financial Tips



	Estate planning tips If you are among the two out of three farmers who hasn't done any serious planning, your estate will probably be taxed significantly more than necessary. Most others pay no estate taxes at all, while the majority of farm families do. Estate planning cuts across the fields of legal, financial and insurance planning, and calls for an understanding of farm and family business issues. Bringing the next generation into the family business is also a part of estate planning. Some areas to consider: Planning for untimely death and disability, including a contingency plan for your business. For example, will your spouse run the farm? Working out a plan with an estate planning team—accountant, lawyer, consultant and insurance underwriter Wills, estates, trusts Gifting Special farm use valuation Questions to ask about retirement planning: Do you know how much income Social Security will provide? Are you familiar with various options in tax-deferred retirement plans (IRAs, Keoghs, SEPs)? Are you aware of the financial options your life insurance may provide at maturity? Have you considered the tax effects of leasing or selling real estate after retirement? Contact us at info@farmcreditwny.com for more information today! Prepare now for 'new" 2010 tax on inherited property How to be a better risk manager. Building a business plan. Who needs a consultant? Will you be "SHOCKED" by the cost of retirement? Financial Solutions - improve management.			Tax and Business Alert Credit - Loan or lease? Taxes - Businesses receive ... - Records: What to keep ... - 2001 Tax Act - Prepare now for ... - Alternative Minimum Tax - Education tax credits - Sales tax exemption - NY - Energy tax credit - NY - Year-end tax planning Management - How to price a branded... - How to be a better risk... - Financial Risk... - Leading the troops... - Start New Enterprise - 9 Business Succession... - A closer look - Loan officer - Building a business plan - Bus. management advice - Communication quiz - How to be a better risk... - 6 Public Relations Tips - Saving costs on energy... - Who needs a consultant? Estate Planning and Retirement - 13 Estate Planning Terms - Will you be "SHOCKED" ... - Avoid making these 7... - Do you need a will? - Estate planning tips - Knowing your net worth... Appraisal - Who needs an appraisal?
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