Jessica Groskopf - Extension Educator for Agricultural Economics

Jessica Groskopf

faculty, volunteer
Work
4502 Ave I Scottsbluff NE 69361-4939
US
Work 308-632-1247
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icon-academic-capEducation

  • BS, Colorado State University, 2010
  • MS, Kansas State University, 2011

Faculty Bio

Two men look at paperwork near field
Always consult legal and financial professionals for structuring agreements for your estate.

Ideas for Estate and Transition Planning: Life Insurance Backed Buy-Sell Agreement

October 11, 2024
This article discusses how farm and ranch families can use a life insurance policy to ensure liquidity for on-farm heirs who must buy out siblings' shares upon a parent's death.

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Family members stand together near vehicle
Life insurance can be a key tool for farm and ranch businesses to provide tax-free death benefits at the death of the insured if the policy is structured correctly. (CAP photo)

Ideas for Estate and Transition Planning: Life Insurance for Debt Coverage

September 26, 2024
This article highlights the importance of life insurance for farmers and ranchers in estate planning to cover debt, ensuring liabilities are paid off upon death.

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Man and woman walk with children in field
Farm families can use life insurance as part of estate and transition planning to ensure financial security and smooth business succession for future generations.

Ideas for Estate and Transition Planning: Life Insurance

September 20, 2024
Life insurance can be a valuable tool for farm families, offering tax-free death benefits if structured properly. This article outlines the types of life insurance and their roles in debt coverage, estate equalization and income replacement.

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Three people stand in field near equipment
As verbal leases are still common amongst American farmers, it’s important for all parties to give careful attention to legal timelines when entering an agreement to avoid disputes. (CAP photo)

Terminating a Verbal Farmland Lease in Nebraska

August 21, 2024
It's important to understand your rights when entering or terminating a verbal farm lease. This article provides best practices for termination to mitigate risks and foster smoother transitions.

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Family standing beside fence
Farm families who decide to gift a portion of the business to heirs should weigh the options carefully — gifting shares during life may reduce the donor's tax liability but could also lower their income, whereas transferring ownership at death allows heirs to benefit from a step-up in the asset's tax basis, potentially reducing capital gains taxes. (CAP photo)

Ideas for Estate and Transition Planning: Gifting Ownership

August 14, 2024
The next installment of a series on bringing family members into an agricultural operation, this article focuses on the pros and cons of gifting shares of a business during the donor's life versus at their death.

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Family riding horses through pasture
A recent book by Morgan Housel has relatable tips for farm and ranch families in finding balance in autonomy, wealth, and happiness. (Photo by Natalie Jones)

Recent Reads: The Psychology of Money

August 1, 2024
Insights on navigating the complexities of personal finance for multi-general farms and ranches.

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Corn field during summer
A corn field in August before harvest. (Photo by Chabella Guzman)

Determining a ‘Good’ Price for New Crop Corn

July 23, 2024
Consider these factors when creating a grain marketing plan for 2024.

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Hay bale sits in field
Nebraska hay stocks are substantially higher than last year, and coupled with low demand, there's currently downward pressure on forage prices. (Photo by Chabella Guzman)

Staying Current on Forage Prices

June 18, 2024
There are several resources that Nebraska producers can use to stay up to date on current hay prices. Use these sites to stay informed throughout the forage production season.

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