7 Farm Succession Planning Mistakes That Can Tear a Family Apart addresses a problem many farm families quietly postpone. Parents, farming children, and off-farm siblings may each hold different expectations about what will happen. When those expectations are never discussed or documented, grief can quickly become conflict. Farm succession planning should coordinate land ownership, management, retirement, incapacity planning, equipment, leases, …
Before Harvest Begins: Family Farm Succession Planning Conversations to Have Now is a timely reminder for farm families in late July. Once harvest season begins, there may be little time for difficult conversations about ownership, management, retirement, family expectations, or what happens if a key decision-maker becomes unavailable. Farm succession planning is not just an estate-planning exercise. It is also …
In this installment of Ask Sam and Kendal, Rincker Law, PLLC associate attorneys Sam Ellis and Kendal A. Schoepfer explain why transferring a farm to an LLC or trust became an important legal question after the federal government’s Residential Real Estate Reporting Rule took effect on March 1, 2026. Below, we explore “Could Transferring a Farm to an LLC or …
The Illinois Farmer’s Annual Legal Checklist: What to Review Each Season can help farm owners address legal and business issues before they become expensive problems. Farming rarely leaves much time for paperwork, but contracts, leases, insurance policies, employment records, succession plans, and business filings should not be ignored until a dispute or emergency occurs. Dividing these reviews by season can …
Farm Succession Planning Is Also Business Planning: What Illinois Farm Families Should Consider is an important reminder that passing down a farm is not only an estate planning issue. For many Illinois farm families, succession planning may also involve business structure, management authority, contracts, leases, taxes, family communication, land ownership, and long-term decision-making. A farm is often more than a …
If you own farmland in Central Illinois, you may be asking yourself: Should I Put My Farm in an LLC in Illinois? This is one of the most common and practical legal questions farm families raise when thinking about liability protection, succession planning, and long-term stability. The answer depends on your goals, but in many situations, forming an LLC can …
As planting season approaches across Central Illinois, many farm families are focused on inputs, equipment, cash flow, and crop strategy. But Farm Succession Planning Before Planting Season for Central Illinois Families is just as important as seed selection or soil preparation. Spring marks the beginning of a new production cycle, and it is also the ideal time to evaluate whether …
When it comes to passing a family operation from one generation to the next, few topics are more important or more emotional than farm succession planning in Illinois. Yet many families delay or overlook key legal details, leaving their legacy vulnerable to conflict, taxes, or even loss of the family land. Avoiding these common legal mistakes can help ensure your …
Few things are more personal to Illinois farmers than their land. It represents decades and sometimes centuries of hard work, stewardship, and family pride. Unfortunately, without careful legal planning, that legacy can unravel in a single generation. Estate planning for farmers ensures that your land, equipment, and business stay in the right hands while minimizing taxes and family disputes. Understanding …