The farm is not only a homestead, but a living heritage and a coveted inheritance. It is something that many of you were given as a birthright and you probably plan on giving it to your own children in turn. As times, customs, and priorities change over each generation, the older farmers sometimes struggle to […]
Category: Family Farm
Categories
3 Benefits of The Family Farm
The concept of the family farm used to be a very commonplace staple in American culture. Today family owned and operated farms are less common but still an increasingly important part of human culture, both domestic and worldwide. Encouraging more families to take part in family farming has many benefits. It Teaches Cause and Effect Often in […]
It’s never too soon to decide who will care for the family farm when you are ready to pass the torch to the next generation. Unfortunately, it is a conversation all to often postponed until it’s too late. A recent article on estate planning notes that, “Individuals put off estate planning because they think they don’t own […]
Farmers take care of the land. They grow crops, tend to animals and work long hours. They are not always aware of how estate planning can benefit them when it comes time to pass the family farm to the next generation. What are three key reasons to consider estate planning for the family farm? Federal estate taxes […]
Handing down the family farm through the generations has been a long-honored tradition for many families across the United States. It offers a nostalgic image that at one time could be considered living the American dream. Nowadays, though, there are indications that this isn’t happening as often as it used to. The simple fact of […]
There is always work to be done on the family farm, which makes estate planning a priority when leaving the farm to a loved one. When someone passes away, one’s possessions and property are distributed during probate. A court oversees this process that can take anywhere from 3 months to years to conclude, and complications […]
It’s a common tradition in the farming industry that estates are passed down within the family to continue production for upcoming generations. It used to be as simple as signing over the deed to your children, and then they simply took over. Today, however, with the numerous estate laws now in place, retiring farmers need […]
Family farms have been disappearing over the years, with the number of dairy farms dropping more than 90% since 1970. There are many benefits to having a family farm, which we will take a look at here. The Animals A love for animals is a key factor for many who become farmers. Having the patience to care […]
Multigenerational Farming offers the chance for a younger generation to reap what’s been sowed by their parents and grandparents. Although there are always new machines and techniques to make farming less labor intensive and more efficient, these new-fangled methods could also have unforeseen consequences. This article touches on two examples where the new generation of farmers […]
As farmers, we face daily struggles. Family farms looking to transition from one generation to the next, face even greater challenges. When the children of the family are young, it’s easy to put off future planning. When they enter the teenage years, their contribution is great and this is, quite possibly, the most productive time for […]
