AgDay
Hosted by Haley Bickelhaupt, AgDay provides the nation’s farmers and ranchers with the latest news, weather and business headlines, and features the people and places unique to the industry and small-town America.
Stream the latest episode on Farm Journal TV. Now available on Apple devices, Android devices, Roku, Apple TV, and Amazon Fire.
Latest News
While the Christmas dinner table isn’t the place to discuss succession planning, Top Producer Seminar is!
For the Gruhlkey family, farming thousands of irrigated acres in two states and eight counties is the easy part.
Indiana farmer finds a non-family heir for his farm business.
Transitioning a business from one generation to another is complicated. Add the complexity of being family owned and operated, and you have an entirely different set of challenges.
Estate planning laws aren’t different for farmers versus others; however, there are variances, such as vocabulary, emotional ties to land, operation versus land, own versus rent, personal financial statement and deeds.
There’s a major misconception when it comes to transitioning the farm. John Phipps kicks off a multi-part series about planning for the next generation in farming on U.S. Farm Report.
Up to $12.06 million can be passed to your loved ones upon death, exempt from federal estate tax. While living, you can also gift $16,000 annually to as many individuals as you’d like. Of course, some exceptions apply.
A Spousal Lifetime Access Trust (SLAT) may make sense for gifting in 2021. We go over the details.
Married and on the farm? If one spouse dies, make sure the surviving spouse works with an adviser to file IRS Form 706 to benefit from any unused federal gift or estate tax exemption. You could save millions.
Even though the transfer tax might not happen, it is likely we will see major changes in gift taxes.