Farm Estate

Man and woman speaking near tractor — Successfully bringing additional family members into an ag operation may require some creativity, as all parties need to maintain a viable standard of living. Gifting assets is one strategy for compensating the next generation on the farm or ranch.

Ideas for Estate and Transition Planning: Gifting

April 24, 2024

Gifting assets, such as equipment, livestock, land, or shares of an entity, is one of several ways to compensate family members in an operation, but it requires careful consideration of the guidelines.

Center pivot system in snowy field — Snow covers the landscape around a center pivot and bales of hay. (Photo by Chabella Guzman)

Farm and Ranch Estate and Transition Planning Workshops in Rushville, Chadron, Scottsbluff

January 18, 2024

Following a presentation that will assist producers with creating an estate plan, the workshops will feature a Q&A session with an attorney or panel of estate planning professionals.

Man and son on farm — The upcoming farm succession workshops are sponsored by the Nebraska Rural Response Hotline, Nebraska Department of Agriculture Beginning Farm Tax Credit and Negotiations programs, the Farm and Ranch Project of Legal Aid of Nebraska, and the Nebraska Farmers Union Foundation.

Free Farm Succession Workshops Set for Jan. 24-25

January 4, 2024

Hosted in Stuart and Greeley, the workshops will cover basic estate and succession planning to assist farm and ranch families in creating or reviewing their plans.

Farming family in field — Participants of this Returning to the Farm workshop will benefit from two additional virtual training sessions, scheduled for Jan. 11 and Feb. 8. See details below.

Returning to the Farm Workshop Dec. 8-9 in Grand Island

December 1, 2023

The two-day workshop will assist families and agricultural operations with developing financial plans and successful working arrangements to meet their unique needs.

Wheat field and barn — Free to attend, registration for the Nov. 21 workshop in Harrison is required. See details below. (Photo by Chabella Guzman)

Extension Ag Estate, Transition Planning Workshop Scheduled in Harrison

November 14, 2023

Set for Nov. 21, the workshop will feature discussion on tools and strategies to create estate plans while avoiding common mistakes during the process.

Young farm couple talking in field — Estate planning goes beyond creating a will and assigning beneficiaries to inherit land after a death — it's also important for farmers and ranchers to consider what medical care they want to receive if a debilitating illness or accident leaves them unable to make decisions.

Are You a Farmer or Rancher Over 18? It’s Time for an Estate Plan

October 12, 2023

Often, the risk of failure for a farm caused by the unexpected death or disability of a young person is much greater than the loss of an older member. In this article, learn more about the key components of creating an estate plan for young producers.

Farmers — Nebraska Extension Educator Jessica Groskopf outlines what types of conversations should be had around finances during the transition process in this Center for Agricultural Profitability webinar.

Farm Transition: Beginning Conversations About Finances

April 21, 2023

One of the hardest things to do is talk about finances — in this new webinar, Nebraska Extension Educator Jessica Groskopf helps farm owners and heir generations learn how to discuss operational finances while planning a succession.

Free Farm Succession Workshops in December

September 27, 2022

The Nebraska Rural Response Hotline is hosting three workshops in December that will help producers build business succession plans and better understand certain tax measures, such as inheritance tax and federal transfer tax.

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