Among the unique set of problems farmers encounter, estate and succession planning is often the most challenging. Determining when and how to transfer the farm is a long and not always straightforward process. This can include identifying the farm su…
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Unfortunately, just because someone has a will does not mean that their estate will not go through probate. What is probate? Probate is the legal process of settling an estate after a person has died. A petition must be filed with the court and a per…
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Many of us have some sort of online presence, whether that be something as simple as an e-mail account or multiple social media profiles or accounts on sites such as Facebook, LinkedIn, Instagram, or Snapchat. Regardless of the extent of your online…
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The best time to share your family history with loved ones is right now, before the memories are forgotten. Holidays are family get-togethers are great opportunities to share the history of your family with children and grandchildren. While you can a…
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When we sit down to discuss someone’s estate planning, the questions we ask are quite simple: What do you have? Where do you want it to go? Who do you want to manage your affairs after you’ve passed away? As part of these discussions, we often ta…
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President Trump signed the new tax bill into law on Friday, December 22, 2017, making for some big changes in federal estate tax planning. Under the new law, the federal estate tax exemption will be substantially increased for tax years starting in 2…
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With tax reform underway starting in 2018, now may be the last chance for many to maximize their charitable contribution deductions. While the deduction for charitable contributions is preserved in the new tax bill, many fewer taxpayers will actually…
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Millennials currently make up one fourth of the US population and are projected to soon surpass Baby Boomers as the nation’s largest living generation. Millennials also represent more than one quarter of the U.S. workforce with this number expected…
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A comprehensive estate plan should address all of your assets. For most people, an estate plan must include three common categories: (1) your home; (2) financial accounts, like your checking and savings account; and (3) personal property. Other types…
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While Congress has not yet sent a tax bill to the President’s desk, both the House and Senate have passed their own versions of a sweeping tax reform bill that has implications for many estates. This article explores the changes to the federal…
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