Food and Agricultural Law Blog

Inheriting a farm with siblings: what if one wants to sell? For an Illinois family, that question can turn a shared inheritance into a difficult conversation about money, memories, and someone’s livelihood. One sibling may depend on the farm for income. Another may live several states away and need their inheritance to pay bills or prepare for retirement. Neither position ... Read More The post Inheriting a Farm With Siblings: What If One Wants to Sell? appeared first on Rincker Law, PLLC.

For parents whose wealth is tied up in farmland, providing for every child while preserving the operation can be one of the hardest parts of succession planning. You may have one child who wants to continue farming and others who have built lives elsewhere. You want the operation to survive, but you also want every child to know they matter. ... Read More The post How Do You Leave the Farm to One Child Without Leaving the Others Out? appeared first on Rincker Law, PLLC.

Farm Succession Planning Checklist: What to Gather Before Meeting With an Attorney begins with a simple task: write down what makes the farm run. That includes more than the land. Equipment may belong to a business, acreage may be leased, and a loan may depend on the current owner’s involvement. Your attorney needs to see those pieces together to help ... Read More The post Farm Succession Planning Checklist: What to Gather Before Meeting With an Attorney appeared first on Rincker Law, PLLC.

How far before the wedding should Illinois farmers start a prenup? Early enough for both people to understand the farm’s finances, discuss what they want the agreement to accomplish, and review its terms without a wedding deadline hanging over them. A farm prenup may involve land, business ownership, family expectations, and a future inheritance. Those questions can take time to sort ... Read More The post How Far Before the Wedding Should Illinois Farmers Start a Prenup? appeared first on Rincker Law, PLLC.

Already married and own a farm? Can an Illinois postnuptial agreement help clarify how farmland, farm business interests, or future investments may be treated if the marriage ends? It may be worth discussing with an attorney, but a postnuptial agreement is not a guaranteed shield for the farm. Its terms, the circumstances surrounding its preparation, and how it fits with ... Read More The post Already Married and Own a Farm? Can an Illinois Postnuptial Agreement Help? appeared first on Rincker Law, PLLC.