Coyotes help farms? Can this be true? What about the converse: killing coyotes hurts farms. Yes. Both true, albeit, perhaps surprising, statements. I think many of us get the impression that since coyote populations seem to be doing well, coyote shooting tournaments or occasional hunting can’t hurt the coyotes. However, killing coyotes does hurt farms. To continue reading, click here.
If ever there was a time in American history when we had reason to fear being eaten by bigger animals, it is past. The greatest dangers these days are self-imposed: fast cars, fast food, pollution… All the wild carnivores in North America combined do not kill as many people as do domestic dogs. Cars kill thousands of times as many people as do animals. To continue reading, click here.
Farmland Transition and Succession Planning Column Series: Published in The Sun Community News and prepared in collaboration with Adirondack Land Trust, this series of 13 articles focuses on farmland transition, but much of the information translates for estate planning, and forest and business transition as well.
Last year, I was talking about farmland transition and succession planning support with a group of farmers and one asked, “Why would a farmer need support selling farmland? Selling land is easy—people do it all the time!” That’s a great question. It turns out, even though the question seems simple, and it seems like it should have a really simple answer, it’s complicated, and there are many reasons why it’s important to support farmers in the monumental task of solidifying what will happen to their land, infrastructure, and business when they are no longer farming. Read more here.
Why are farmers selling land to development? One reason is because it can yield higher profits than either selling land into agricultural use or keeping it in agricultural production. This does not always have to be the case, because different strategies can help ag land actually profit better. Read more here.
Succession planning helps ensure that farmers can retire with their goals met, that productive farmland remains in agriculture, and that new farmers have access to land. For farmland owners, steps include: goal-setting and communicating with family members; estate planning; retirement planning; and planning transfer of land, other assets, the business itself, and management of the business. Read more here.
Now we can move on to estate planning. An estate plan lays out how you want your assets, including property, to be distributed at retirement and after you die. Estate plans also serve as a way to provide financial protection for you and your family while you’re alive. It’s important to start by setting goals. Read more here.
If you have a will, any assets in your name will be distributed pursuant to your will, but only after probate. There are many rules for probate. Things can get complicated depending on many factors, including family relationships, which is why many people want to avoid it. Read more here. This article was written by Harris-Pero & Botelho, a law firm that works with farm clients. Visit www.saratogawills.com
This article explains ways you can avoid probate in order to save money and stress on your loved ones after you pass away. One way to avoid the probate or administration process is to create a Living Trust into which you transfer your assets during your lifetime. Read more here. This article was written by Harris-Pero & Botelho, a law firm that works with farm clients. Visit www.saratogawills.com
Learn how farms benefit the tax base, even when they receive tax benefits. Also, learn ways of dealing with taxes at time for farm transfer. Read more here.
This article presents a case study demonstrating how strategies for estate planning can reduce taxes when farmland is transferred. Read more here. This article was written by Harris-Pero & Botelho, a law firm that works with farm clients. Visit www.saratogawills.com
Leasing farmland is an option with positives for both farmland owners and leasing farmers. Learn why, and details of what should be included in a lease here.
One of the most important tools for farmland protection and estate planning for farm and forest owners are conservation easements. Learn more here.
If you are one of the 92 percent of farmers in New York State who do not have anyone prepared to take over your farm, and you’d like to see your farmland stay in agriculture, what do you do? Learn more here.
How do agricultural appraisals differ from other types of appraisals? Learn more here. This article was written by Rob Guay, Certified General real estate appraiser with over a decade of farm appraisal experience. Rob is incoming President of the Northeast Chapter of the American Society of Farm Managers and Rural Appraisers. He also runs an 8,000-tap maple operation with his family and keeps beef on the former dairy farm where he grew up in Mooers, N.Y.
Ready to get started? Check out nyfarmlandfinder.org and our Cornell Cooperative Extension Essex Farmland Protection webpage: essex.cce.cornell.edu/agriculture/farmland-protection where we have linked to a resource document with the professional service providers that serve Essex County and specialize in and have experience with farmland transactions, conservation easements, and forest land transactions. Learn more here.
Last updated April 11, 2022