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<blockquote data-quote="Silver" data-source="post: 1663038" data-attributes="member: 12520"><p>If a future transition is a possibility, and you run your business as a limited company, accountants have told me it's a good idea to form another class of shares and freeze the value of those shares. This has several tax advantages for both you and your kids when the time comes, but it would take an accountant to explain why that is lol.</p><p>As far as keeping them involved, when I was a kid and buying cows my dad took 2/3 of my calf crop for "expenses". If nothing else this taught me that there was an expense side to the equation and a live calf was not "free money" but left me enough to feel like I was a part of things and had a chance to get ahead.</p></blockquote><p></p>
[QUOTE="Silver, post: 1663038, member: 12520"] If a future transition is a possibility, and you run your business as a limited company, accountants have told me it's a good idea to form another class of shares and freeze the value of those shares. This has several tax advantages for both you and your kids when the time comes, but it would take an accountant to explain why that is lol. As far as keeping them involved, when I was a kid and buying cows my dad took 2/3 of my calf crop for "expenses". If nothing else this taught me that there was an expense side to the equation and a live calf was not "free money" but left me enough to feel like I was a part of things and had a chance to get ahead. [/QUOTE]
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