Three brothers own a farm together. Their outdated agreement said - TopicsExpress

Three brothers own a farm together. Their outdated agreement said upon death the survivors only had to pay $50,000 for a share now worth at least $500,000. We converted the General Partnership to a Limited Liability Company. The conversion is tax free and results in significant increased asset protection. Of course, we changed the buy/sell provisions to better reflect the value at the time of any transfer.

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