Beginning Farmer Center
Beginning Farmer Center

Business, Estate and Succession Planning

Farm Business, Estate and Succession Planning

Farm business, estate, and succession planning are essential to preserving both the farm’s legacy and its long-term viability. These plans help farmers organize their financial, legal, and operational goals to ensure a smooth transition from one generation to the next. Without proper planning, farms can face unnecessary taxes, family conflict, or even loss of the operation.

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Business Entity Basics

Farmers should explore whether a business entity such as an LLC, partnership, or corporation may be a tool that would help them meet their goals. These resources explain how business entities may be used in a farming operation.

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Estate and Succession Planning for the Farm Workbook

The Estate and Succession Planning for the Farm workbook is an educational resource for farmers and ranchers developing estate and succession plans. The workbook provides thorough discussions on the topics of property ownership, wills and trusts, estate and gift tax, income tax planning, business entity planning, and more. 

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Estate and Succession Planning for the Farm Portal

This subscription service links farmers to trusted resources designed to equip them on their estate and succession planning journey. Whether you’re just getting started or wondering if your current plan still works for you, these educational tools will guide you through the process.