Overview Dolly Parton’s death at age 80 offers an opportunity to think about something much larger than the life of a remarkable entertainer. Her story is, in many respects, a story about the enduring importance of the American farm – and about something that much of modern society has forgotten. […]Read more »
Estate Planning
227 posts
Overview A farmer’s death creates obvious estate-planning questions: Who receives the land? Who gets the equipment and livestock? Who will operate the farm? What happens to the debt? But for a farm that participates in USDA Farm Service Agency (FSA) programs, there is another set of questions that can be […]Read more »
Overview Estate planning has always adapted to new forms of wealth. Historically, planners have focused primarily on real estate, securities, and closely held businesses. Today, an increasing number of clients own digital assets ranging from cryptocurrency to tokenized investment interests. At the same time, blockchain technology is beginning to influence […]Read more »
Overview Facing compressed operating margins, elevated interest rates, and fluctuating trade dynamics, producers are increasingly forced to reevaluate their foundational business structures. Operational decisions that once seemed routine – such as signing a bank loan renewal or selling an underutilized combine – now carry sophisticated, sometimes hidden, tax and regulatory […]Read more »
Overview For generations, married couples in Kansas have operated under standard “common-law” property rules. This meant that if you bought an asset together—like family farmland—and one spouse passed away, only that spouse’s 50% share of the property received a “step-up” in tax basis to its current fair market value. The […]Read more »
Overview For decades, Kansas estate planning and family law practitioners operated under a jurisprudential anomaly: the notion that a citizen could not contract away their future spousal homestead rights before marriage. Grounded in a strict reading of traditional common law, courts routinely struck down clear, unambiguous premarital waivers. They acted […]Read more »
Overview For agricultural families, a farm is rarely just a business or an investment portfolio; it is an irreplaceable legacy. It represents generations of sweat equity, deep ties to the local community, and a unique way of life. However, passing a farming operation to the next generation introduces an incredibly […]Read more »
Long-Term Care Planning for Farmers and Ranchers Overview For many farming and ranching families, the land is more than just an asset – it is a living history, a source of identity, and a hard-won legacy intended for the next generation. However, in 2026, that legacy faces a predatory threat […]Read more »
Overview The One Big Beautiful Bill Act made 100 percent bonus depreciation permanent for assets placed in service after January 19, 2025. So, this year, you will be able to deduct 40 percent of the cost of buildings and equipment placed in service between January 1 and January 19. After […]Read more »
Overview With today’s article I look at more legal and tax issues that farmers and ranchers need to know about. Being aware of legal and tax issues is a means of overall risk management for the operation. More discussion of legal and tax issues – it’s the topic of today’s […]Read more »