Securing Your Legacy on the Land, Part 5: Best Practices of Non-Resident Landowners

In our prior four conversations, we focused on the critical topic of succession planning. We covered the subject from a range of viewpoints including management succession, family governance structures, legal entities, wealth transfer and trusts. We considered each of these issues from the standpoint of the landowner.

This fifth and concluding part in the series deals with the non-resident owner or what some call the “outside” rancher or “absentee” landowner. Some observers believe that the non-resident owner has become the dominant buyer in recent years, so it is appropriate to consider some of the issues this owner faces.

Howard Weiss, Senior Vice President and Family Office Strategist with Bank of America Private Bank, offers some important strategies and best practices for this type of owner in a Q&A with Western Landowners Alliance’s program director Hallie Mahowald.