“We have three kids. Our youngest son works on the farm and is the only one who will take it over. The goal has always been to keep the farm going and in the family, but we’ve seen and heard so many stories about farms not surviving the next generation because it gets split between the children. The problem is, most of our assets are farm assets. We love our children equally and don’t want to show favoritism. How can we structure our estate plan to keep the farm going while being … [Read more...] about Fair Isn’t Equal – 12 Examples
Farm Succession Planning for Your North Dakota Farm
If you own a family farm, you know that owning a farm is so much more than just operating a business. It represents years, and often generations, of labor, investment, and personal identity. When your livelihood is rooted in land, equipment, livestock, and long-standing relationships, planning for the future becomes especially important. Estate planning for a farm presents challenges that differ from those faced by owners of other types of businesses. Your farm may appear valuable on paper, but … [Read more...] about Farm Succession Planning for Your North Dakota Farm
