Category

Farm Business Planning

The Legal Costs of Rising Farm Prices Impact Farmers’ Pocketbooks

Anyone who lives in a rural area knows that farm prices are through the roof right now. For those selling farmland, it’s great news. But many of the farmers I talk to are worried about the high costs. Beyond the simple “It’s too expensive to buy land right...
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Family farms: A model of business

The Atlantic magazine recently published a great article about family farms and how they’ve weathered changes on the industry to become hugely successful. This is the type of farming I see in my corner of Minnesota. The farms are all owned by families. While they may have...
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Planning to Pass on the Farm – Ag Succession Planning

Farming involves a lot of tough decisions and specialized knowledge. Farmers have to know when to hurry to the field in the middle of the night because a big storm is coming at 6:00 am and the whole chemical application schedule will be thrown off by missing these next 12 hours. ...
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Agriculture a “Bright Spot” in a Down Economy – Earnings, Incomes increase in 2010

At a time when many farm families are struggling, it’s encouraging to hear good news about farm profits.  The Star Tribune recently reported that “Agriculture rebounded sharply in Minnesota, but gains weren’t evenly spread.”  Although not all farmers...
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Farm Business Planning – Begin thinking now

Last Monday, I had the opportunity to attend a farm business and estate planning seminar hosted by Riverland Community and Technical College and Minnesota Extension in Austin, MN (Mower County).  As you can see, it was very well attended. It was a great opportunity for farm...
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Farm Transition and Estate Planning Education Opportunity in Austin, Minnesota

I will be at an upcoming farm transition and estate planning workshop in Austin.  It will be a good opportunity for farmers to sit down together and learn more about this important topic.  I’m happy to share information about local educational opportunities for farmers. ...
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I am a Lawyer, I am a Mother, I am a Christian, I am hopeful.

I think it’s important that my clients know what to expect when they hire me, and part of that is knowing about my values.  I am a lawyer, and that means I will advocate for my client’s position.  You might think of me as a counseled adviser who speaks on you...
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Federal Estate Tax Changes for 2011 and 2012 – Increased Tax and Gift Exemptions Equal Flexibility

The 2010 Tax Act made some significant changes to the estate tax system that could affect your estate. Consider using the increased estate tax, gift tax, and generation skipping tax exemptions to your advantage through 2012.
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Leaving a Home, Farm, Business, or Asset to More Than One Person – Avoiding a Partition Sale

Here’s a good reason to do some estate planning–to avoid fights and hard feelings between your heirs.  The Washington Post recently had an advice column that addressed the issue of two siblings fighting over the family home.  One lived in it and wanted to keep it; the...
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Family Farm Succession Planning – Now is the Time To Start

When things are running smoothly on the farm (and especially when they’re not), it’s easy to delay planning for the future of your agri-business. But now is the best time to get started. Farm succession planning will guide you and your family as you prepare to include...
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