Estate Planning Isn’t About a Will — It’s About Responsibility Most people think estate planning starts and ends with a will. Often, it’s a cheap one — a $100 will or a $300–$500 “estate plan” — and the assumption is that a single d…
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Why Minnesota Farmers Still End Up in Probate Even With a Trust One of the most frustrating questions we hear from Minnesota farmers is this: “We had a trust. Why did the farm still end up in probate?” The answer is not necessarily that the trust…
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Why An Incomplete Power of Attorney Can Shut Down a Minnesota Farm Overnight Most Minnesota farmers have a power of attorney in place. The problem? Many of those powers of attorney are incomplete, and families don’t find out until it’s too late.…
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The #1 Estate Planning Mistake That Breaks Minnesota Farm Succession Plans Most Minnesota farmers believe that once they’ve signed a will or trust, their estate plan is finished. Unfortunately, that assumption is exactly why so many farm succession…
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How Minnesota Farmers Can Use the Annual Gift Tax Exclusion in 2025 — And Why It Matters As we get ready to step into another year in Minnesota, it’s worth revisiting one of the simplest — and most overlooked — strategies available to farm fa…
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Minnesota’s Corporate Farm Law: What Every Farm Owner Needs to Know If you own or operate farmland in Minnesota through an LLC, corporation, limited partnership, or irrevocable trust, you may not realize that you’re subject to a unique law: Minne…
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The New Federal Estate Tax Law: Why Minnesota Farmers Still Need to Plan Ahead What does passage into law of the One Big Beautiful Bill Act mean for Minnesota farmers? The new federal law sets a $15 million estate tax exemption ($30 million for marri…
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Is a Simple Will Enough for a Farm Succession Plan? Short answer: No. A simple will cannot protect a working farm. It may be fine for a young couple with minimal assets, but for farm families, it’s a dangerous shortcut that often leads to probate,…
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The #1 Risk No Farmer Expects in Succession Planning When most families think about succession planning for the farm, they focus on the obvious: taxes, land values, debt, and the details of ownership. But there’s another risk that often goes overlo…
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How Often Should You Update Your Farm Estate Plan? You’ve taken the important step of creating a farm estate plan. You’ve identified who will carry on the operation, made decisions about how assets will be passed on, and set the groundwork for yo…
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