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