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Huntin' Land PodcastAuthor: Great Days Outdoors
Stay up to date on Hunting Tactics, Land Management, Land Values, and Land Market dynamics with hosts Joe Baya, Butch Thierry, and Clint Flowers. Language: en Genres: Hobbies, Leisure, Sports, Wilderness Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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Trust and Estate Planning For Landowners
Thursday, 19 December, 2024
The podcast discusses the importance of estate planning for landowners, particularly those with timber or recreational land. The guests, Jeffrey Winick and Scott Pugh from Regions Private Wealth Management, provide insights on the essential elements of an estate plan, including wills, trusts, and beneficiary designations. They emphasize the need for open communication with family members to understand their preferences and avoid potential disputes over the land.The conversation highlights the challenges of fractional ownership, where land is divided among multiple heirs, and the importance of having a clear management plan to maintain the property's value and sustainability. The guests suggest creative solutions, such as first right of refusal and equalizing assets, to address these issues.The discussion also covers the cost-benefit analysis of estate planning, noting that while the upfront cost may seem high, the long-term benefits of a well-crafted plan can outweigh the expenses. The guests encourage listeners to work with a team of professionals, including financial planners, CPAs, and estate planning attorneys, to ensure a comprehensive and effective estate plan.Overall, the podcast emphasizes the critical role of estate planning in preserving the legacy and management of landowners' properties, particularly for those with timber or recreational land. The guests provide valuable insights and guidance to help listeners navigate the complexities of estate planning and ensure their wishes are carried out: This information is general in nature and is not intended to be legal, tax, or financial advice. Although Regions believes this information to be accurate, it cannot ensure that it will remain up to date. Statements or opinions of individuals referenced herein are their own—not Regions'. Consult an appropriate professional concerning your specific situation and irs.gov for current tax rules. Regions, the Regions logo, and the LifeGreen bike are registered trademarks of Regions Bank. The LifeGreen color is a trademark of Regions Bank. This information is general education or marketing in nature and is not intended to be accounting, legal, tax, investment or financial advice. Statements of individuals are their own—not Regions’. Consult an appropriate professional concerning your specific situation.This podcast is intended for educational and marketing purposes only.
