With a valid pre-nup, farming interests can be designated as the separate property of the spouse who inherited such interest. Learn more about pre-nups.
At one time, a top concern for many farm owners was how to prevent losing the family farm to pay estate taxes upon the death of the owner. Today, with the higher than ever federal estate tax exemption, losing the farm as a result of estate taxes is usually not the biggest concern for keeping the farm in the family. Instead, divorce, potential lawsuits, and other events pose a much bigger risk. Learn about estate planning techniques that can be used to protect family farms.