» Estate Planning

It’s Planning Season

It’s Planning Season To have a successful farm, thoughtful planning must be done every season. Your life is no different. To properly prepare for the next season in your life and the lives of your loved ones, you need a well-executed estate plan. W… Read More
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Categories: Estate Planning, Farm

Have a Harmonious Family that Does Not Fight? You Still Need an Estate Plan

Have a Harmonious Family that Does Not Fight? You Still Need an Estate Plan In many families, everyone gets along, happily gathering for the holidays, sharing laughs, telling stories, and enjoying each other’s company. Then, the matriarch or patria… Read More
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Categories: Estate Planning

Farmer’s Guide to Machinery Depreciation, Stepped-Up Basis, and How Smart Planning Can Save Taxes on Farm Equipment

Farmer’s Guide to Machinery Depreciation, Stepped-Up Basis, and How Smart Planning Can Save Taxes on Farm Equipment Farmers know the value of depreciation when it comes to reducing their tax burden year to year. Bonus depreciation and Section 179 d… Read More
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Categories: Estate Planning, Farm

Farm Equipment Loans and Liens: The Hidden Threat in Your Estate Plan

Farm Equipment Loans and Liens: The Hidden Threat in Your Estate Plan If you’re like most farmers, your equipment isn’t just sitting in the shed debt-free. Tractors, combines, and other essential machinery often carry liens, loans, or are wrapped… Read More
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Categories: Estate Planning, Farm

4 Tips to Avoid a Will or Trust Contest

4 Tips to Avoid a Will or Trust Contest Fighting over provisions in your will or trust can derail your final wishes, rapidly deplete your financial legacy, and tear your loved ones apart. However, with proper planning, you can help your family avoid… Read More
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Categories: Estate Planning

How Fast Can a Physician's Estate Exceed $3 Million? Faster Than You Think

How Fast Can a Physician’s Estate Exceed $3 Million? Faster Than You Think If you’re a physician practicing in Minnesota, chances are your estate may already be bumping up against — or exceeding — the state’s $3 million estate tax e… Read More
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Who Really Owns the Farm Equipment? Why It Matters for Estate Planning

Who Really Owns the Farm Equipment? Why It Matters for Estate Planning When it comes to farm equipment, ownership isn’t always as clear as people think. Over the years, machinery gets bought, sold, handed down, or co-owned without much formal d… Read More
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Categories: Estate Planning, Farm

Why Farm Equipment Needs to Be Part of Your Estate Plan

Why Farm Equipment Needs to Be Part of Your Estate Plan When most people think about farm estate planning, they immediately think of land. And that makes sense — land is often the most valuable and essential asset a farm owns. But if you stop there… Read More
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Categories: Estate Planning, Farm

I May Be Gone, But I Still Control My Assets: How a Trust Can Help You Rule from the Grave

I May Be Gone, But I Still Control My Assets: How a Trust Can Help You Rule from the Grave It’s a question we all eventually face: What happens to everything I’ve worked so hard for after I’m gone? While it may feel a little odd to plan for wha… Read More
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Categories: Estate Planning

Should I Buy a Home with Someone Other than a Spouse?

Should I Buy a Home with Someone Other than a Spouse? Rising housing costs, the desire for companionship, and the need to share resources are increasingly leading buyers to consider co-owning a home with someone other than a spouse, such as a friend,… Read More
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