Farm Succession Planning
You work hard to sustain your farm and it is never too soon to think about the critical steps that are necessary to transfer your wealth and farm operation.
Farm succession planning is often a complex process that requires multiple steps. To start this process, please see the information given on our Wills, Trusts & Estate Planning page for further information, and also complete a confidential ESTATE PLANNING QUESTIONNAIRE. The University of Minnesota also has helpful handouts that provide preliminary information about farm succession planning. After you have completed the questionnaire and collected the requested information, please contact us to make an appointment, where attorney Amy Mursu will guide you through the layers of planning that will be necessary to implement a farm succession plan that is catered to your specific needs. Planning topics that may be discussed and/or implemented include the following: Revocable Trusts, Family Limited Partnerships and LLCs, Buy-Sell Agreements, Irrevocable Life Insurance Trusts, Annual Gifting, Company Recapitalization, Intentionally Defective Grantor Trusts, and any other planning measure that would be suitable to meet your needs.