As experts continue to interpret the new tax code, two things are certain for ag producers: The changes are far reaching and complex and in many cases, will result in a lower tax liability. This overview looks at several of the major changes affecting ag producers.
Nebraska farmers and ranchers are invited to take a confidential, online survey about their farm or ranch succession plans. Responses will be used to design educational materials, a website, and develop programs specific to Nebraska producers.
A 2013 tax law change–the portability rule–can simplify farm and ranch estate planning. Farm and ranch families still need to do estate planning to develop and implement farm or ranch business transition plans so that the farm or ranch can continue to be successfully operated by the next generation. This Q&A addresses a number of questions.
Farm and ranch business succession and estate planning will be the focus of workshops in St. Paul and Beatrice. The free workshops will be from 10 a.m. to 2:30 p.m. at the St. Paul Civic Center Feb. 23 and the Extension Office at the Gage County Fairgrounds March 1.
What happens if you die without leaving a will or trust? This article explains the provisions in Nebraska laws for administering your estate and transferring your assets, as well as who may have to pay inheritance taxes.