#farmsuccession

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Welcome to the Maryland Risk Management Education Blog, provided by the University of Maryland Department of Agricultural and Resource Economics and features the work of the Maryland Crop Insurance Education program and the University of Maryland - MPowering the State's Agriculture Law Education Initiative, a University of Maryland Extension Signature Program. This blog provides readers with information on risk management issues important to Maryland agriculture, upcoming events, and new materials that may interest readers.

Court Decision Splitting Up Family Farm Reversed: When Farm Succession Planning Fails

Paul Goeringer

Jul 24, 2018
5 min

Court Decision Splitting Up Family Farm Reversed: When Farm Succession Planning Fails

The article is not a substitute for legal advice. See here for the site’s reposting policy. Farm succession planning can be a complicated process for many farm families. A recent decision out of Minnesota involving a farm dairy’s succession plan highlights what can go wrong when farm families do not handle the situation. The parents had three children, and one child had moved back to take over the farm. The parents placed the farmland into a revocable trust with each chil

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Admin

May 26, 2017
2 min

Weekly Roundup May 26th

By Sarah Fielder Trump Releases Proposed Budget for FY18 On Monday, President Trump announced his proposed budget for 2018. The budget would slash $38 billion in farm commodity programs and crop insurance (http://reut.rs/2rBiRqY) and cut other programs relied on by rural America (http://wapo.st/2qYbJEx). The budget has been declared dead on arrival by many in Congress https://usat.ly/2qlxj1C. Is Your Organic Food Really Organic Food? The Washington Post this week featured a

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Admin

May 19, 2017
2 min

Weekly Roundup May 19th

By Sarah Fielder Recent Webinar Looked at Farm Financials For Succession Planning University of Wisconsin’s Center for Dairy Profitability and UW Extension recently held a webinar covering farm finances in relation to farm succession. The webinar featured Kevin Bernhardt and is a part of a larger series on farm succession in the dairy industry. To learn more about the webinar series or watch the video from the most recent webinar, see http://bit.ly/2qsMMP7. EPA Wants Commen

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Admin

Apr 21, 2017
3 min

Weekly Roundup April 21st

By Sarah Fielder Syngenta Lawsuit Advancing The federal district judge overseeing the class action lawsuit against Syngenta for releasing the MIR162 genetic event before being approved in China ruled on several motions narrowing the issues for the bellwether trial that will begin in June. Based on the ruling, the June trial will focus solely on negligence claims under Kansas law. To read a summary of the ruling and what it means to the bellwether trial, see this summary by

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Admin

Apr 14, 2017
2 min

Weekly Roundup April 14th

By Sarah Fielder USDA Delays GIPSA Rules A federal rule announce in late December by USDA was to go into effect on April 22, but USDA announced the rule will be delayed for six-months. The rule was designed to make it easier for contract growers to sue companies. The rule has been controversial since it was proposed in 2010. To learn more about the on-going debate around the rule, see the recent AP story http://bit.ly/2osm0pe. Jury Deliberating Fate of Six Men Who Supported

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Admin

Apr 7, 2017
2 min

Weekly Roundup April 7th

By Sarah Fielder USDA Offers Renewal Options for Expiring Conservation Stewardship Program Contracts The Natural Resource Conservation Service has announced renewal options for those with expiring Conservation Stewardship Program (CSP) contracts. CSP is the largest working lands conservation program administered by USDA and changes were made in 2016 to make the program work better for those producers looking to improve conservation practices on their lands. To learn more ab

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Admin

Feb 17, 2017
2 min

Weekly Roundup Feb. 17th

By MD Risk Management Blog Farmers Encouraged to Attend Trainings on Food Safety Modernization Act The Maryland Department of Agriculture, in partnership with the University of Maryland and University of Maryland Extension, is offering three trainings for food safety: 1) FDA-approved training curriculum for the Food Safety Modernization Act (FSMA) Produce Rule, 2) FDA approved training curriculum for FSMA Preventive Controls for Human Food Rule, and 3) Basic GAP training. F

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Estate Tax Changes You Need To Know About Before 2017

Sarah Everhart

Nov 15, 2016
2 min

Estate Tax Changes You Need To Know About Before 2017

By Sarah Everhart Are you a member of a family-owned business entity such as a corporation, limited partnership, or LLC? If so, you need to be aware of the proposed change in U.S. treasury regulations to Section 2704 of the IRS Code, which could become final by the end of 2016. If finalized, the regulations will significantly reduce the availability of valuation discounting on certain intra-family transfers of interests in family-owned entities. The regulations will also aff

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Oct 14, 2016
3 min

Weekly News Roundup: October 14th Edition

By Mayhah Suri Missouri’s Right-to-Farm Constitutional Amendment Doesn’t Protect Pot Growers A Missouri trial judge has ruled that the constitutional amendment Right-to-Farm does not give a person a right to grow pot in his/her home. According to the judge, pot was not a common crop planted for cultivation and harvest in the state. The defendants plan to appeal. This is the 3rd time a trial court has ruled that Missouri’s amendment does not protect the right to grow mariju

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Aug 19, 2016
3 min

Weekly News Roundup: August 19th Edition

By Mayhah Suri What Kind of Ag Law Outreach Would You Like to See? Now available online is a program evaluation for the Ag Law Education Initiative (ALEI). The evaluation will help ALEI determine what topics to prioritize in the coming years. Let us know what you want to know! You can take the brief, anonymous survey here: http://go.umd.edu/ALEIEval New Rules for Somerset County Chicken Farms Bill Satterfield is Executive Director for Delmarva Poultry Industry, Incorporated.

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Paul Goeringer

Jul 29, 2015
3 min

IRS Releases Final Rules on Portability

This post should not be construed as legal advice or tax advice or marriage advice. In June, the Internal Revenue Service (IRS) released the final regulations on the portability of a deceased spousal unused exclusion amount. To put that in simpler terms, every man, woman, and child is allowed over his/her lifetime to give assets to others without paying gift, estate, or generation-skipping taxes. This tax credit is known as a unified tax credit and for 2015, the tax credit

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