News & Analysis as of

Farms Family Businesses

Schwabe, Williamson & Wyatt PC

The Changing Landscape of Oregon Farm Succession Planning with the New Federal Gift & ‎Estate Tax Exemption under the One Big...

Farm and ranch families can use the federal gift tax laws to avoid the Oregon estate tax on farms at death. As many folks are aware, anyone (including a non-resident) who owns real estate in Oregon that exceeds $1 million...more

Schwabe, Williamson & Wyatt PC

Oregon’s New Estate Tax Exemption for Family Businesses engaged in Farming, Forestry, ‎or Fishing Businesses

On July 13, 2023, Governor Tina Kotek signed into law SB 498, which provides a new Oregon estate tax exemption for up to $15 million (the NR Exemption) of natural resource property that is used in a decedent’s farming,...more

Pullman & Comley, LLC

Legacy Planning for the Farm and Agriculture Community

Pullman & Comley, LLC on

Farmers and their families face unique challenges when they are planning for the succession of their businesses and the real estate associated with their farms.  Oftentimes, farms are successively held and then given to...more

Ruder Ware

Estate Planning for Young Farmers

Ruder Ware on

Estate planning isn’t just for the elderly. Young farmers can also benefit from taking a quick look at their own estate and succession plans....more

Mitchell, Williams, Selig, Gates & Woodyard,...

Strategizing Farm Succession

For various reasons, fewer and fewer family farms are passing on to the next generation. Recent economic, weather and political events have certainly set forth a bumpy road for those interested in long-term planning. ...more

Bennett Jones LLP

Tax Relief for Intergenerational Transfers in Force…For Now

Bennett Jones LLP on

The Federal Government has backtracked on its plan to delay the application of Bill C-208, a private member's bill aimed at facilitating intergenerational transfers of small businesses and farms. Until at least November 1,...more

Bennett Jones LLP

Tax Relief for Intergenerational Transfers in Limbo

Bennett Jones LLP on

Bill C-208, a private member's bill aimed at facilitating intergenerational transfers of small businesses and farms, received Royal Assent and became law on June 29, 2021. Just one day later, on June 30, 2021, the Federal...more

Bennett Jones LLP

Bill C-208 Poised to Facilitate Intergenerational Small Business and Farm Transfers

Bennett Jones LLP on

A private member's bill aimed at facilitating intergenerational transfers of small businesses and farms has moved one step closer to becoming law. After passing third reading in the House of Commons on May 12, 2021, with 199...more

Ruder Ware

Farm Succession Planning: Build Your Succession Planning Team

Ruder Ware on

Farmers know there’s going to come a day when they’re no longer around to run their farms – and they know they should have plans in place for when that day comes. But farmers often delay planning because it forces them to...more

Barnea Jaffa Lande & Co.

How to Arrange the Inheritances of Agricultural Farms

Many landowners in agricultural communities (moshavim) find themselves wondering about the future of the family farm once they have passed. Questions such as how can the estate be bequeathed, to whom, and what the parties who...more

Ruder Ware

Estate Planning for Family Farms: What to do with the Land

Ruder Ware on

While most businesses use real estate, unique planning issues arise for family-farm owners because of the importance of real estate to the farm and family. There are several reasons for that....more

Womble Bond Dickinson

Family Farmer Relief Act Expands Chapter 12 Bankruptcy Protections for Small and Mid-Sized Farms

Womble Bond Dickinson on

Running a family-owned farm is not easy work under the best of economic circumstances, and it can be nearly impossible when times are tough. More than 30 years ago, during the mid-1980s, John Cougar Mellencamp’s mournful song...more

Ruder Ware

Farm Family Probate

Ruder Ware on

The family farm has always been unique from an estate-planning perspective. Unlike many traditional businesses, a farm business typically holds a disproportionate amount of illiquid assets such as real estate, equipment,...more

Farrell Fritz, P.C.

Trouble Down on the Farm: The Importance of Using Experienced Counsel When Forming an LLC

Farrell Fritz, P.C. on

It’s commonly said there are three things that matter with real estate: location, location, location. Likewise, three things matter when choosing a lawyer to set up a limited liability company: experience,...more

Ruder Ware

Farm Succession Planning

Ruder Ware on

A huge number of baby boomers have created or continued successful family owned farms. As they approach retirement the future of those farms hinges on their ability to successfully transition to a next generation. Less than...more

Ruder Ware

Will Parents’ Long-Term Care Costs Sink the Farm?

Ruder Ware on

Originally Published on © 2018 Agri-View. Madison, WI. Problems can result when parents maintain ownership of a farm but need long-term health-care services from an assisted-living facility or nursing home. Expenses...more

Ruder Ware

Using Prenuptial Agreements to Protect the Family Farm

Ruder Ware on

The family farm is a special asset. The family may have worked hard through decades, maybe even generations, to accumulate and develop the farm’s land, equipment and livestock. The children may be grown and successors to...more

Downey Brand LLP

Tax Law Uncertainty Should Not Delay Farming Business Succession Planning

Downey Brand LLP on

President Trump promised and will pursue tax reform, but Congress must agree to any proposal. For the most part, a majority vote in both houses would allow tax reform for about a decade, and at least sixty Senate votes would...more

Ruder Ware

Thinking About Expanding Your Business?

Ruder Ware on

Flyte Family Farm in Coloma has grown a lot over the years. Not only has Flyte grown tons of crops, but Flyte has also grown its business, which has expanded to five greenhouses and 3200 acres....more

Ward and Smith, P.A.

Succession Planning—Bet the Farm on It

Ward and Smith, P.A. on

Despite recent trends toward consolidation in the agricultural industry, farming generally remains a family affair. According to the United States Department of Agriculture, 97 percent of all farms in the United States are...more

Maynard Nexsen

New Treasury Proposed Regulations: Bad for family farms

Maynard Nexsen on

In transferring the ownership of family farms to the next generation, it is common to take advantage of certain valuation discounts in making transfers. The Department of Treasury recently released proposed regulations under...more

21 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide