Inheritance documents are legal papers that control asset transfer after death or incapacity. Without proper documents, families face probate delays, higher taxes, legal battles, and potential loss of land to creditors. The real costs hit hard. Court proceedings drag on
Understanding “In-Kind” Compensation The IRS defines in-kind compensation as payment made in goods or services instead of cash. This can include anything from meals and lodging to crops or livestock. This form of payment provides some advantages to both the
When valuing farmland, accuracy is everything. A certified farm appraisal relies on a combination of local knowledge, professional expertise, and—most importantly—market data. But how exactly does market data shape the adjustments an appraiser makes when determining a farm’s value? Let’s
When it comes to farmland, not all appraisers are created equal. Many appraisers know about homes, commercial buildings, or real estate. However, valuing farmland is a special skill. It needs a strong understanding of the land and the agricultural market.
A complete guide to the steps forward and capital gains tax implications Inheriting farmland from an estate after losing a loved one is a major responsibility after an already difficult time for a family. After helping hundreds of families through
When considering hiring a farm manager to professionally manage your farm or a farm that has been in your family for a long time, the first questions that often come up are: What does a farm manager do? Can I
Selling your family farm in Iowa brings up a lot of emotions. This land might have been in your family for generations, or perhaps you inherited it and feel overwhelmed about where to start. The good news is that Iowa
Land ownership affects every part of buying, selling, and managing property. The way you set up ownership determines who controls the land, how you can pass it on, what taxes you pay, and who handles problems that come up. Each
A land appraisal determines how much your property is worth in today’s market. This process differs from what happens when someone appraises a house because land brings its own set of variables and challenges. Property appraisals become especially important in
Buying or selling land is different from your typical house transaction. You need an agent who knows what they are talking about when it comes to soil types, CRP contracts, and local market trends. Most residential agents can tell you
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