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Home>Farm Business>Farm Life

Farm Succession

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Key guides and information surrounding the critical practice of estate planning and succession design.

Is it cost-effective to bale your own hay?

This free buyer's guide helps farmers evaluate the cost-effectiveness of owning and operating hay equipment.

Highlights

Does your estate plan encourage marital harmony?

Aug 03, 2020

Estate Plan Edge: How you leave your estate to your heirs can provide an incentive to a lifetime commitment. Or not. Plan carefully!

Kari Olson, Rob Olson and Nicole Strafelda on the family farm

Robert Olson Farms plans for long-term succession

Aug 03, 2020

The Olson family is into year four of a 10-year business transition plan for their Clay County farm.

Transparent check mark over compliance related icons and words handwritten on white papers

SECURE Act requires trust change for retirement accounts

Jul 29, 2020

The new law alters tax benefits of trust; but with a few modifications, the practice still makes sense.

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Do you need to pay to protect your deed?

Jul 29, 2020

Country Counsel: Losing ownership of your home or land through forgery is extremely unlikely.

Unsettled times may be just right for 'the talk'

Jul 17, 2020

Another Voice: Succession planning is sometimes a challenge, but it isn't something to avoid.

Steps to take when your farming spouse dies

Jul 14, 2020

Legal Matters: The probate process usually takes at least nine months.

Trusts really do lower income taxes

Jul 02, 2020

Estate Plan Edge: The belief that assets held in trust will cause higher income taxes for the beneficiary is a myth. The fact is, a trust reduces income taxes.

Paying too much, or too little?

Jun 30, 2020

You may never know the real cost of do-it-yourself estate planning.

Three generations of male farmers walking through a wheat field

Make the transition from farm CEO to board chair

Jun 25, 2020

The road map to farm succession plans ends with the young farmer becoming majority manager.

A Caucasian hand holding a black short barreled shotgun

Gun trusts provide unique legal features

Jun 24, 2020

Country Counsel: A gun trust allows restricted firearms to be owned and transferred.

Farm transition step 2: Pay next generation to work on farm

Jun 24, 2020

The young farmer makes more decisions in the next phase of a farm succession plan.

Needs, expectations for successful farm succession

Jun 23, 2020

Tough Decisions: A well-thought-out plan will help ensure the family farm continues for another generation.

1st step in farm transition: Send next generation off farm

Jun 23, 2020

Education and experience increase the value of a young person in the family farm business.

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