E161: Putting the Success in Farmland Succession

For farmland owners who aren’t interested in simply selling off heritage property to the highest bidder, exploring alternatives can be a daunting process — even when there is a clear farm family heir who’s interested in continuing the business. The good news is, there are multiple options for property holders who are committed to avoiding development and keeping their land in agriculture — and DTN’s Victoria Myers joins us today to explore exactly what some of the options look like. Today, we’re taking a closer look at conservation easements, how to work with local and state land trusts, and what kind of financial and tax tools exist to help support these efforts. We’ll talk life insurance, dive into the benefits and limitations of trusts versus limited liability corporations, and hear more about recent, and potential, updates to estate tax rules. Then, Victoria will give us some insight into her next set of stories on shifting farmland prices across the country