In Florida, there are many families that have held agricultural lands in their families for generations. As land is passed from one generation to the next, there is always a temptation to sell the land to pay taxes, expenses, or simply cash out. To preserve the land for future generations certain safeguards must be put into place as part of your estate plan. Succession planning is the process of setting up a smooth transition between you and the future owners of your property.
There are many factors to consider when creating a succession plan for Agricultural Land.