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University of Minnesota Extension

Transfer and estate planning

Transitioning the farm business

Preparing to transfer the farm business

Factors to consider and how to establish goals. 

Farm business transfer strategies

Transferring the farm business from one generation to the next can take several years. What are the strategies for farm business transfer?

Using partnerships and corporations to transfer farm assets
You can do away with the need to transfer separate, individual assets by establishing a business entity.  Learn about types of partnerships and corporations.

Transferring machinery and livestock
At retirement, most farmers are faced with how to best dispose of their assets. The major concern here involves the issue of self-employment tax and income taxes. 

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