Mary Vandenack is a highly accomplished and respected attorney with extensive expertise in tax, trusts and estates, business succession, high net worth estate planning, asset protection planning, executive compensation, tax dispute resolution, and philanthropy. As the CEO, Founding, and Managing Member of Vandenack Weaver LLC in Omaha, Nebraska, Mary provides exceptional legal services to businesses, business owners, executives, real estate developers and investors, healthcare providers, professionals, and tax-exempt organizations. She is a renowned public speaker, writer, and innovator in her field, sharing her knowledge and insight with audiences across the US through podcasts, webinars, and publications. Mary is actively involved in several American Bar Association committees, including the Real Property Trust and Estate Section and the Law Practice Division, where she serves on the Executive Council and as Vice Chair of Law Practice Magazine. With numerous accolades and recognitions, Mary is widely regarded as one of the leading lawyers in her field.

Listen to this informative Your Life. Your Legacy. episode with Mary Vandenack about her approach to legacy planning as objective-based planning. In addition, she also discusses transitioning a business to family, the emotional value of farming land, integrating insurance, selling a business with no family members, and the importance of wellness in her work.

Here is what to expect on this week’s show:

●    Legacy planning is more than just drafting wills and trusts - it's about understanding a client's objectives and collaborating with their advisors to achieve long-term goals, including business transitions and passing on a legacy to family members.

●    Partnering with financial advisors, life insurance can help tackle common challenges in family businesses, particularly in agriculture, where wealth is typically concentrated in property and livestock, and where it can be challenging to distribute inheritance fairly among non-business-involved family members.

●    Preserving a family legacy over multiple generations is possible with creative planning strategies, such as incentive farm leases and LLC structures, but balancing the interests of all family members and avoiding internal resentments is crucial for success.

●    When no family members are available to take over a business, the conversation shifts to business succession. Essential considerations include identifying potential buyers, understanding what life looks like after the sale, and beginning succession planning from the day you start the business.

●    As a wellness visionary and advocate, Mary prioritizes well-being in her personal and professional life, recognizing the importance of mental and physical health for both herself and her clients.

Connect with Mary:

Website: https://maryvandenack.com/

Vandenack Weaver, LLC: https://vwtlawyers.com/

Twitter: https://twitter.com/mvandenack

LinkedIn: https://www.linkedin.com/in/mary-vandenack-508020a/

Podcast: https://maryvandenack.com/podcast/

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