http://www.agweb.com/blogs/ This blog focuses on making complex and difficult topics in estate and business planning understandable and applicable to the reader.       Andy is an Agribusiness Consultant for AgCountry Farm Credit Services, Fargo ND, a farmer owned cooperative and part of the Farm Credit System serving eastern North Dakota and northwest and west central Minnesota. AgWeb.comhttp://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/c-corporations_and_appreciating_assets/Analysis of the possible pitfalls of putting appreciating assets into a c-corporation. Andy is an Agribusiness Consultant for AgCountry Farm Credit Services, Fargo ND, a farmer owned cooperative and part of the Farm Credit System. Andrew ZenkThu, 19 May 2011 09:48:00 GMT23751http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/basis_differences_of_land_transfers_to_heirs__gifting_vs_transfer_at_death/Analysis of transferring land either through gifting during life, or at death, and the basis considerations. Andrew ZenkFri, 20 May 2011 16:08:00 GMT23765http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/farming_with_family_and_importance_of_planning_for_the_what_if’s_in_life/Writing explores the importance of planning for a problem when farming with family. Andrew ZenkMon, 23 May 2011 12:02:00 GMT23789http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/overcoming_the_barriers_in_completing_an_estate_plan/There are many "barriers" or reasons why people do not have an estate plan. This article focuses on some things to think about to help overcome those barriers. Andrew ZenkThu, 26 May 2011 11:14:00 GMT23816http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/potential_consequence_with_life_estates/Overview about potential consequences when engaging in a life estate transaction done during life. Andrew ZenkTue, 31 May 2011 16:29:00 GMT23854http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/maximizing_opportunities_for_the_future/The importance of planning for the future with retirement and estate and business planning. Andrew ZenkMon, 06 Jun 2011 08:51:00 GMT23893http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/treating_your_farming_and_non-farming_children_“fairly_and_equitably”_-_how/Treating your Farming and Non-Farming Children “Fairly and Equitably” - How?? Blog discusses some ideas. Andrew ZenkMon, 13 Jun 2011 09:58:00 GMT23934http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/basics_of_life_insurance_and_federal_estate_tax/This post begins a two part summary discussing first the Basics of Life Insurance and Federal Estate Tax, and then second an explanation of an Irrevocable Life Insurance TrustAndrew ZenkWed, 15 Jun 2011 16:20:00 GMT23961http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/overview_of_irrevocable_life_insurance_trusts/Continuing with my previous posting, this post will cover the general requirements of an irrevocable life insurance trust (“ILIT.”)Andrew ZenkWed, 22 Jun 2011 09:48:00 GMT24006http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/farmland_trusts_overview/This post covers a general overview of a tool known as a "testamentary farmland trust."Andrew ZenkMon, 11 Jul 2011 09:31:00 GMT24140http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/differences_between_a_last_will_and_testament_“will”_and_a_revocable_living_trust_/This post gives some basic differences between the two common estate planning tools. Andrew ZenkFri, 15 Jul 2011 16:28:00 GMT24182http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/like_kind_exchanges_-_general_overview/General overview of 1031 "Like Kind Exchanges."Andrew ZenkMon, 08 Aug 2011 11:32:00 GMT24331http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/converting_to_an_s-corporation_and_built_in_gains_tax/Blog post discusses the potential consequences with converting from a C to an S corporation, focusing on "built in gains" taxesAndrew ZenkThu, 18 Aug 2011 13:13:00 GMT24425http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/per_stirpes_distribution_in_estate_planning/Post gives general overview of what "Per Stirpes" means in estate planning. Andrew ZenkFri, 02 Sep 2011 12:10:00 GMT24522http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/estate_planning_-_general_explanation_and_overview/This begins a series of posts explaining what "estate planning" is and giving an overview of common planning practices.Andrew ZenkWed, 07 Sep 2011 12:26:00 GMT24542http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/last_will_and_testament_-_general_overview/This continues with an earlier discussion on estate planning. This post focuses on a tool used commonly in estate planning: a Last Will and Testament. Andrew ZenkSat, 10 Sep 2011 13:40:00 GMT24566http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/revocable_living_trust_-_general_overview/This continues with my ongoing discussion / series on estate planning. This post focuses on another tool used commonly in estate planning: a Revocable Living Trust. Andrew ZenkWed, 14 Sep 2011 20:09:00 GMT24592http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/complete_estate_plan_-_ancillary_documents/Continuing with estate planning overview, this post will focus on "ancillary documents" that go along with your chosen estate planning vehicle. Andrew ZenkTue, 20 Sep 2011 15:06:00 GMT24625http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/estate_tax_planning_-_federal_estate_tax/This post covers the latest on federal estate tax issues. Remember, there may be state estate tax liabilities, depending on which state you live in. Contact your local professional for further assistance. Andrew ZenkTue, 27 Sep 2011 08:25:00 GMT24686http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/estate_planning_continued_-_planning_for_first_death_and_second_death/This post continues with the estate planning overview, focusing on planning, broken down into "first death" and "second death."Andrew ZenkTue, 04 Oct 2011 13:03:00 GMT24745http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/property_ownership_in_estate_plannin/This post continues my ongoing discussion on estate planning. It focuses on the importance of property ownership - how assets are titled as it relates to your plan.Andrew ZenkTue, 11 Oct 2011 08:21:00 GMT24828http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/estate_planning_-_picking_people_with_responsibilities/This post continues with my general overview of estate planning. It focuses on the decisions with picking fiduciaries or "people with responsibilities" in your estate plan. Andrew ZenkWed, 19 Oct 2011 11:48:00 GMT24901http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/“don’t_worry____this_will_all_be_yours_someday”__/“Don’t Worry . . . This Will All Be Yours Someday.” are disastrous words in family farms, especially if the proper estate planning is not done to reflect the statement. This post focuses on the importance of estate planning and gives a story to examine what could happen. Andrew ZenkTue, 08 Nov 2011 07:59:00 GMT25087http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/partial_gift_and_partial_sale_of_land_to_family/Blog Post Focuses on a Review of a Partial Gift and Partial Sale of Land to FamilyAndrew ZenkFri, 11 Nov 2011 16:13:00 GMT25138http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/buy-sell_agreements_-_very_important/Post talks about the importance of a buy-sell agreement and gives an example of how it can be used in farming. Andrew ZenkFri, 18 Nov 2011 16:11:00 GMT25197http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/first_rights_of_refusal_options_in_estate_planning_documents/Post provides an understanding of a "first right of refusal" when dealing with land, and determining a fair and equitable distribution of assets in a farm family's estate planning. Andrew ZenkFri, 02 Dec 2011 16:54:00 GMT25312http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/dealing_with_the_certainties_in_life__death_and_taxes/Often you hear "there are two certainties in life: death and taxes." Neither are any fun. Both require proper planning. Andrew ZenkFri, 16 Dec 2011 16:26:00 GMT25456http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/family_limited_liability_limited_partnerships_-_overview/This post is the start of a discussion involving family limited liability limited partnership. It will define the entity and also discuss some various characteristics and options it provides as a planning tool. Andrew ZenkWed, 28 Dec 2011 10:41:00 GMT25543http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/qa_on_family_limited_liability_limited_partnerships/This continues with the review of a family limited liability limited partnership, looking at some practical questions and answering them. Andrew ZenkSat, 07 Jan 2012 07:57:00 GMT25637http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/family_limited_partnerships_and_gifting_-_qa/Continuing with the previous posting, this information will address a variety of issues regarding the use of a family limited liability limited partnership (“FLLLP.”) Remember, every state has its own specific laws and every plan is different so it is crucial to make sure this fits your plan. Here a [...]Andrew ZenkMon, 09 Jan 2012 22:40:00 GMT25660http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/federal_estate_taxes_–_a_history_lesson_and_what_lies_ahead/This post analyzes the recent history of estate tax exemption amounts and looks at what lies ahead. Andrew ZenkThu, 19 Jan 2012 17:06:00 GMT25788http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/planning_for_estate_planning_meeting/This post will give you some ideas on ways to prepare for your estate planning meeting with your chosen professional. Andrew ZenkSun, 19 Feb 2012 14:28:00 GMT26095http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/income_in_respect_of_decedent_-_what_is_that/Article discusses a potential issue in estate administration - income in respect of decedent.Andrew ZenkThu, 01 Mar 2012 16:02:00 GMT26217http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/supplemental_needs_trusts_explained/This post explores the general uses of a Supplemental Needs Trust. Andrew ZenkThu, 29 Mar 2012 10:20:00 GMT26495http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/everythings_going_as_planned____until_it_doesnt/"Everything's Going as Planned" . . . Until it Doesn't. The need for strategic business planning often falls on the list of priorities, continually put off. It's not a big issue, until things DON'T go the way you planned. Do not learn the hard way on the importance of strategic business plannin [...]Andrew ZenkTue, 15 May 2012 11:06:00 GMT26979http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/fathers_day__working_with_dad__family/Many in agriculture are lucky to be able to work side by side with their family. Father's Day is a good time to give thanks for this and also make sure that it is protected with proper planning.Andrew ZenkFri, 15 Jun 2012 11:24:00 GMT27261http://www.agweb.com/farmjournal/blog/farm_estate_and_succession_planning/making_gifts_to_an_irrevocable_trust__better_do_crummey_notices/Importance of a Crummey Power in a Trust Document. Often estate plans include irrevocable life insurance trusts. "Crummey Notices" are important with these, and often over-looked. They should be done!Andrew ZenkMon, 08 Oct 2012 15:20:00 GMT28210