|Happy new year Patrick,|
this article will expand considerably on what I had written regarding.... The Wool Worth empire.... and how it has been transformed into a much larger one.
My Mom' s Dad and her brother Butch spent the years from 1964-2003 running the a 6600 hundred acre nature persevere.. that they pulled more hardwood off of than than we could shake a stick at while simultaneously making capital improvements on the land with an 8 mile road around the principle lake and then numerous offshoots on so much of the rest of the property.....home of the Kirby's.....
I learned much about how wealth is created and passed down.. by watching it occur over the years.
the glorious thing is that that land itself can stay on the book at ti's 1964 value... while multiple buildings, including repair SHOPS and lodges can be depreciated over a 20 or so year period.
I always enjoying my talks with FM Kirby II... over the years.