Legacy Planning
From cyberattacks to succession, top producers share how they turned high-stakes crises into strategic growth. Discover how balancing data with values and peer relationships can transform agricultural risk.
Strong succession is driven by leaders who are willing to plan boldly, act decisively and invest in their next generation. Your family and your operation are counting on you.
Attorney Robert Moore shares tips regarding long-term care and strategies to make sure farmers and ranchers don’t lose the farm when faced with associated costs.
No matter the succession strategy, all producers have one similar goal: minimize or eliminate estate tax burden.
Working on a succession plan for your operation? Here are a few key points to keep in mind.
Matt Gunderson, vice president of Farmers National Company, says having these advisers will give your plan the sturdiest foundation.
The good news is there are legal devices to do whatever a farmer wants to do. The key is using the right mechanisms for the relationship piece.
There’s a serious lack of communication between generations, and procrastination and conflict avoidance are killing agriculture, says Elaine Froese, a farm family transition expert.
The clock is ticking — and the current estate-tax exemption is set to plummet at the end of 2025. The smaller exemption coupled with inflation and land values likely means increased assets and estate-tax rates.
Edgewood Locker got its start in rural northeast Iowa in 1966. The business now spans over three generations, and it’s largely thanks to Joan Kerns who helped start the family business that’s now seen phenomenal growth.
Rena Striegel’s workshop at the upcoming Top Producer Summit will leave attendees with four main takeaways.
Farmers have struggled with the same business and family problem essentially forever: what happens to the farm when parents die. The conflict between fairness and equality has never been truly resolved.
Succession planning can be a complex and emotionally charged process. Achieving consensus among family members, committing to the plan and understanding potential consequences are vital to secure the future of the farm.
In your will or trust documents, you name a power of appointment. This means you grant power to an individual to name recipients of all or a portion of your money and property in the future.
As you look at transitioning leadership and ownership of your farm to the next generation, be ready to tackle entitlement issues.
Matt and Lisa Moreland hoped at least one of their sons would return home to farm after college. What they didn’t anticipate? All three sons wanted to come back. Here are four things the family learned in the process.
More than 50% of farmers intend to grow their operation, based on responses in Purdue’s February 2023 Ag Economy Barometer. If you’re thinking about scaling your farm, it’s important to first ask these questions.
As farm shows and meetings portray a crowd that seems to be aging, is there a shortage of young farmers threatening the future of ag? John Phipps explains why an abundance of young farmers may not be on the farm today.
With Republicans now in control of the House, Rep. RandyFeenstra (R-Iowa) said he wants to introduce legislation shielding the stepped-up basis and like-kind exchanges.
The Deb and Jeff Hansen Foundation has wrapped up Haul Out Hunger, with Iowa Select Farms employees delivering 60,000 pounds of fresh, boneless pork loins to 120 rural food pantries.
The Proposed Transfer Tax can actually eliminate net equity for many farm families and cause their heirs to be underwater. It can be much worse than the current or proposed estate tax for most farmers.
What makes a good family farm transition? It is difficult to achieve a good farm transition without at least doing well in each of these C’s.
With possible increases in estate and gift taxes looming, the use of an Intentionally Defective Grantor Trust (IDGT) may be appropriate to use in 2021.