NASHVILLE, Tenn. (RFD-TV) — One of the biggest threats to farm succession is the federal estate, or “death,” tax. Without recent changes, many family operations — like renowned California rancher Kevin Kester’s Bear Valley Ranch — would have faced significant tax burdens when passing land and equipment to the next generation.
The “One Big Beautiful Bill” Act, which passed in July, permanently increased the unified credit to $15 million per individual beginning in 2026, indexed to inflation. That compares with approximately $7 million under the prior law, a level that could have compelled many farm families to sell assets to pay their tax bills.
National Agricultural Law Center senior staff attorney Rusty Rumley says the higher credit and portability provisions for married couples mean most farms will avoid immediate estate tax exposure. Still, he warns that succession planning remains a larger concern. Sudden illness or death of a farm operator can leave successors unprepared, and a lack of planning can fracture families or force financial hardship.
Tony’s Farm-Level Takeaway: Estate tax relief reduces pressure, but succession planning remains the critical challenge for farm families.
In today’s blog post by RFD-TV agri-legal expert Roger A. McEowen tackles the task of building a solid hunting use agreement.
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Acquiring farm or ranch land, as well as the key concepts and issues are the topics of today’s blog post by RFD-TV Agri-legal Expert Roger McEowen.
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With 2023 projected to be a difficult year for agricultural producers, Chapter 12 filings may increase. One of the requirements to get a Chapter 12 reorganization plan approved is that be filed in “good faith.” In this blog post, RFD-TV Legal Contributor Roger A. McEowen explains exactly what farmers need to know about the process.
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The failure of a grain elevator can cause large problems for farmers and for the local community it serves. A farmer who knows their rights and where they stand if an elevator fails can be in a better position than those farmers who aren’t as well informed. That is the topic of today’s blog post by RFD-TV Legal Contributor Roger A. McEowen.
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Financial matters in farming can be frustratingly complicated, especially when it comes to the process of filing for bankruptcy. That is the topic tackled in today’s blog post by Farm-Legal Expert Roger A. McEowen—the definition of “insolvency” for purposes of the exclusion from income of CODI.
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The “farm products rule,” and the 1985 Farm Bill modification and its application – that is the topic of today’s blog post from Agri-Legal Expert Roger McEowen.
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Recently, a bank in Texas got confused on the financing rules governing agricultural crops and lost its security interest as a result. Ag financing and priority rules among competing security interests—that is the topic of today’s post.
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The classification of persons conducting farming operations for a farm landowner—that is the topic of today’s blog post by RFD-TV farm-legal expert Roger A. McEowen.
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Farm-legal expert Roger A. McEowen discusses avoiding contractual obligations in times of pandemic.
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