Hear me speak with the one and only Prof. Shannon Ferrell on one of my favorite topics… passing the farm to the next generation. It’s on YouTube here. You can also subscribe on iTunes.
Illinois Agriculture Law: Farm Estate and Succession Planning
This presentation will be given to the Illinois Beef Association this Thursday in Galina, Illinois, at its annual meeting. It discusses the differences between estate planning, succession planning and business planning. Then it delves into the Who, What, When, Where, How and How Much. It too discusses how to have those difficult conversations and using mediation in this process. [slideshare …
Using Wills and Revocable Living Trusts for your Farm’s Estate Plan
Last week’s blog post focused on succession planning– this post will focus on farm estate planning by using wills and trusts (both equally important and can be easily confused). Let’s first look at the advantages and disadvantages of a will. A big advantage of a will is that it can be changed or revoked until the testator loses capacity to make, change, …
Succession Planning for Your Farming Business
Proud of my little cousin Austin Rincker- He made the cover of the Illinois Field and Bean last month (the flagship publication of the Illinois Soybean Association). He is noted in the article starting on page 6 titled “Successful Succession- Begin With the End in Mind.” If you follow this blog then you know how important succession planning for farms, …
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