Is your land ready for the next generation?

Ten questions on passing land on without dividing the family.

This quiz is educational and not personalized advice.

Question 1 of 10
Do the next generation agree on what happens to the land?We have not askedPartlyYes, and it is written down

Question 2 of 10
Is the land held in an entity built for succession?Not yetSomewhatYes, in place

Question 3 of 10
Have conservation easements been considered?Not looked atConsideredIn place or ruled out deliberately

Question 4 of 10
Is there cash to pay taxes and costs without selling ground?NoSomeYes

Question 5 of 10
Do you know the tax basis in the land?NoRoughlyDocumented

Question 6 of 10
Is there a plan for who operates it after you?Not yetSomewhatYes, in place

Question 7 of 10
Have you worked out fair versus equal for heirs who do not want to ranch?Not yetDiscussedDecided and documented

Question 8 of 10
Are the estate documents current?Not yetSomewhatYes, in place

Question 9 of 10
Is there insurance sized to the transfer, rather than to the past?Not yetSomewhatYes, in place

Question 10 of 10
Does the family meet about this on a schedule?NeverOccasionallyOn a schedule

Your result

Not started

The land is not yet set up to pass cleanly, and the part that usually causes trouble is not the paperwork but the conversation. Both are workable, and starting early is what keeps the choice yours.

Get the family in one room and ask what each of them actually wants
Find out the tax basis and write it down
Review the estate documents against the land as it is held today

Documents in place

The intent is clear and the structure is partly there. What is normally missing at this stage is liquidity: the cash that stops a tax bill from forcing a sale.

Work out the tax and cost at transfer, then where the cash comes from
Settle fair versus equal for the heirs who will not operate
Review the entity against the plan you have chosen

Ready

The structure, the documents and the family conversation are aligned. From here it is a matter of keeping them aligned as the family and the tax rules change.

Put the family meeting on a fixed schedule
Re-check liquidity every few years against current values
Confirm the operating plan with whoever will run it