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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… Read More

After establishing a trust, the next step is to properly fund your trust. Funding a trust is the process of transferring or directing assets to your trust. This can be done by re-titling assets in the name of your trust or, alternatively, naming your… Read More

In 2016, the Department of Treasury proposed new regulations for Section 2704 of the Internal Revenue Code. The proposed regulations would have significantly minimized or eliminated discounts for family limited partnerships and other entities. Earlie… Read More

On May 30, 2017, Governor Mark Dayton signed ten budget bills, one of which is an exciting opportunity for Minnesota’s youngest generation of farmers. Minnesota’s farming population is aging; in fact, less than 6% of Minnesota farmers are 35 year… Read More

A 1031 exchange, also known as a like-kind exchange. is a swap of a property held for “productive use or investment” for property of a like-kind. Property is of like-kind if it is the same type of investment. For example, farm land is oft… Read More

To understand title insurance, it helps to know what is meant by “title”. Title is simply the evidence that the owner of real estate is in fact in lawful possession of the property. Title insurance is protection against property loss or d… Read More

The process of transitioning the family farm often begins long before any assets are moved from the retiring farmer to the successor. Generally, the succession plan is a done gradually and involves some gifting/discount by the retiring farmer and buy… Read More

No More Estate Tax? No More “Stepped Up” Tax Basis? Now that the dust has settled on the grueling and seemingly endless election cycle, voters’ minds turn to policy and wonder what (if anything) will come of the promises made by the candidates:… Read More