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Episode 7: Conflict in the Family-Owned Business: A Conversation with Professor Benjamin Means
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Planning For The Exit – What’s Your Exit Strategy?
In the world of farming and ranching, ensuring your land's future is vital. That's where agricultural estate planning comes in. It's all about smoothly transitioning your farm or ranch to the next generation, maintaining its...more
Estate planning isn’t just for the elderly. Young farmers can also benefit from taking a quick look at their own estate and succession plans....more
For various reasons, fewer and fewer family farms are passing on to the next generation. Recent economic, weather and political events have certainly set forth a bumpy road for those interested in long-term planning. ...more
Farmers know there’s going to come a day when they’re no longer around to run their farms – and they know they should have plans in place for when that day comes. But farmers often delay planning because it forces them to...more
Many landowners in agricultural communities (moshavim) find themselves wondering about the future of the family farm once they have passed. Questions such as how can the estate be bequeathed, to whom, and what the parties who...more
While most businesses use real estate, unique planning issues arise for family-farm owners because of the importance of real estate to the farm and family. There are several reasons for that....more
The family farm has always been unique from an estate-planning perspective. Unlike many traditional businesses, a farm business typically holds a disproportionate amount of illiquid assets such as real estate, equipment,...more
A huge number of baby boomers have created or continued successful family owned farms. As they approach retirement the future of those farms hinges on their ability to successfully transition to a next generation. Less than...more
Originally Published on © 2018 Agri-View. Madison, WI. Problems can result when parents maintain ownership of a farm but need long-term health-care services from an assisted-living facility or nursing home. Expenses...more
President Trump promised and will pursue tax reform, but Congress must agree to any proposal. For the most part, a majority vote in both houses would allow tax reform for about a decade, and at least sixty Senate votes would...more
Despite recent trends toward consolidation in the agricultural industry, farming generally remains a family affair. According to the United States Department of Agriculture, 97 percent of all farms in the United States are...more