Estate Planning for Minnesota Farmers

What is Estate Planning?

Estate planning is the process of creating a comprehensive plan that outlines what will happen to your property after you pass away. This includes making arrangements for the transfer of assets, such as land, equipment, and livestock. It also involves setting up trusts or other legal entities that can help protect your assets from creditors or taxes. The goal of estate planning is to ensure that your wishes are carried out after you are gone and that your family will be taken care of financially.

Why Do Farms Need Estate Planning?

Estate planning is essential for all farms, but it’s especially important for high net worth farms. Establishing a trust or other legal entity can help protect your assets from creditors or taxes , and given the historically high increase in land values, this is more important now than ever. Proper estate planning can also ensure that your family has access to the resources needed to continue running the farm even in tough times. Additionally, estate planning can also make sure that any disputes between members of the family over who owns what are settled quickly and efficiently without going through unnecessary legal proceedings.

How Can I Get Started with Estate Planning?

The best way to get started with estate planning is to consult with a qualified farm lawyer. A good lawyer will be able to explain all of your options and help you create an effective plan that works best for your situation. They will also be able to advise you on how to handle any potential problems that may arise in the future and help you prepare for them accordingly. Once you have created a plan, it’s important to review it periodically to make sure it still meets your needs as they change over time. At Wagner Oehler, we have several attorneys that handle farm estate planning for clients throughout Minnesota.

Taking action now on estate planning can ensure a smooth transition for Minnesota farmers when they are no longer around and their families take over operations of their business enterprises. With high-net-worth estates, protecting assets from creditors or taxes becomes more important than ever before; speaking with one of our qualified farm lawyers can make sure everything goes according to plan when passing down assets from one generation to another while ensuring success moving into the future!

Contact us on our website at or give us a call at (507) 288-5567 to get started.

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