More in Farm Succession

  • Feb 20, 2014

    10 Estate Planning Tips; PLUS: How One Farmer Gifted His Estate 1

    I recently saw a news segment about an Iowa farmer who had passed away. The farmer had no family and kept to himself, so when it came time for his funeral, there were many open pews in the church that day. Following the ceremony, the farmer’s lawyer leaned in to the priest and told him the parish would be receiving a large gift from the farmer. In addition, that farmer left bequests to many other local churches in the area. Needless to say, the community was stunned by his generosity....More
  • Jan 8, 2013

    Fiscal Cliff Moves Estate Tax In Right Direction 10

    If you’ve been paying attention this first week of 2013, you already know that Congress passed a tax compromise that averts the fiscal cliff and makes permanent the federal estate tax with an exemption of $5.12 million/individual (indexed for inflation) and a tax rate of 40% for amounts over the exemption....More
  • estate planning
    Dec 3, 2012

    Is Your Estate Plan Up To Snuff?

    Last week, the South Dakota Department of Agriculture (SDDA) and South Dakota State University hosted the first ever Beginner Farmer and Rancher Symposium. It was standing room only as the event focused on helping farm and ranch families transition their operations from one generation to the next....More
  • limousin bred heifer in pasture
    Nov 14, 2012

    Ranchers Need Permanent Estate Tax Relief 10

    I celebrated my 25th birthday earlier this week at a small steakhouse in Letcher, SD. While enjoying steak tips and wine, one of our neighbors joined us at our table. We started visiting about the election results, and soon, the topic of the death tax came up. He said his friend ended up paying $2 million in estate taxes in order to save the family ranch after the death of his father. The conversation continued with talk of estate planning, gifting land and putting assets in a trust for the next generation before it’s too late....More
  • Feb 21, 2012

    Significant Changes Coming In Estate Taxes

    Unless Congress does something to change it by Dec. 31, the per-person exemption from estate taxes is set to take a big plunge in 2013. Individual exemptions will drop from $5 million to $1 million....More
  • Dec 29, 2011

    A Succession Plan & An Estate Plan

    Many, if not most, ranchers want to pass the operation on to a family member. Yet, most never appropriately plan that transition....More

Sponsored Introduction Continue on to (or wait seconds) ×