Estate Planning Videos

Join our specialists as they discuss the Beckman Family: Roger, Cindy, and Ben. Three years after Ben returns from college to work on the farm, communication problems have exposed some holes in this family's plan. Review the communication lessons learned from this family's experience. 

Listen in as our specialists discuss the importance of communication when unexpected events arise. Meet the Blares, a typical farm family with three children. Understand how a communication self-assessment can assist in the planning process. See the impact of solid planning when difficulties arise.

Join farm management specialist Ryan Drollette as he discusses succession options for a cow-calf herd: Gift now? Sell? What about an installment sale? What about transfer of management? Listen in and weigh in on the best options.

Join seasoned livestock and farm management specialists Russ Euken and Kelvin Leibold as they look back at a succession plan implemented by the Loomis family. Discover how they transitioned their farm, including a swine operation, and discuss the importance of contingency planning.

Livestock and farm management specialists Russ Euken and Kelvin Leibold discuss the importance of planning ahead in this case study of family swine operation. This includes the transfer of labor, management, and assets. Learn from these experts as they share wisdom secured from years of working with farm families.

Join farm management specialists Tim Christensen and Eric Weuve as they work through a farm case study involving a blended family. Discuss options for this common, yet sometimes challenging, situation. Address potential pitfalls.

Join farm management specialist Paul Martin as he discusses a family business in need of a plan. Learn about the STEP process: succession, transition, and estate planning in this case involving a farm and a non-farm business.

Join farm management specialists Tim Christensen and Eric Weuve as they discuss a family plan for transferring a crop operation. The study reminds us that it's never too soon to make a plan.

Join farm management specialist Patrick Hatting as he discusses insurance options for funding the farm transition.

In this video, Kristine and Kristiana address the question of when a business entity may be a useful tool.

In this video, Kristine and Kristiana address the common question of what to do with equipment upon retirement.

Kristine and Kristiana explain how a life estate works, how it impacts tax basis and whether I'm safe to rent a farm from someone with a life estate.

In this video Kristine and Kristiana address the difficult issue of long-term care. What are the important things for farm families to consider?

It's a common situation: one child wants to farm, but the others do not. Are there options for transition that won't tear the family apart? Kristine and Kristiana discuss this important issue.

Does it matter how property is held? In this video, Kristine and Kristiana discuss the big difference entity type can make when it comes to property ownership and taxation.

In this video Kristine and Kristiana walk through some of the most common estate and succession planning mistakes. Avoiding these mistakes can prevent problems down the road for you and your heirs.

Should I own property in an LLC or a trust? What difference would it make? Listen in as Kristine and Kristiana discuss this common question.

My neighbor just transferred her property to a trust. Should I do the same? In this video, Kristine and Kristiana discuss the uses, benefits, and burdens of revocable living trusts. 

When family members own property as tenants in common, any of these owners generally has the right to seek a partition or a division of the property. In this video, Kristine and Kristiana discuss the difficulties of partition and ways to avoid it.

In this video, Kiley reviews the importance of setting boundaries to maintaining your health and family relationships. 

In this video, Kiley explains the way stress affects different personalities.She also explains a communication toolbox.

In this video, Kiley shares tips for working through family conflict.

In this video, Kiley equips viewer to learn to express neutrality. This skill can assist in family meetings and difficult encounters.

In this video, Kiley encourages viewers to put action into their planning. She also shares a helpful approach to get things done.

This fact sheet provides tips and strategies for holding difficult conversations related to estate and succession planning. 

This paper provides research-based strategies for initiating and sustaining positive estate and succession planning communication amongst family members.

Many farmers, ranchers, and rural landowners have spent a lifetime building their business and caring for their property. Others are just starting out, wondering what their business will become. Regardless of their stage of life, farmers or landowners must consider the future..This chapter and video introduce the process of estate and succession planning.

The first technical step in estate or succession planning is taking inventory of all assets and debts. In addition to listing assets and their value, it is important to understand how those assets are owned. This chapter and video discuss the different ways property is owned and the impacts of those ownership types. Learners are equipped to complete a property inventory after reviewing this material.

There are two forms of estate succession when a person dies: intestate succession and testate succession. Intestate succession gives a decedent no control over the passing of the estate. Testate or planned succession, on the other hand, seeks to honor the decedent’s wishes and instructions.This chapter and video discuss the general rules for distribution of property at death.

The probate process is the procedure required by state law to transfer a decedent's assets at death. Although it is largely thought to be burdensome and time consuming, that is not always the case. This chapter reviews the probate process. 

Everyone needs a will, even if a will substitute is executed. This chapter reviews the technical requirements for creating a will, as well as some common provisions and considerations.

Trusts are important estate and succession planning tools. They can provide for the transfer and management of income and assets after disability, manage income and assets for the benefit of minors or the vulnerable, or ensure privacy of the distribution of assets at death. This chapter discusses the use of trusts, specifically focusing on the revocable living trust.

Anyone planning for the future must consider unexpected events. What will happen if I become disabled? Who will take care of my property and my medical needs? This chapter reviews several key estate planning documents (besides a will) that everyone should execute.

When developing an estate and succession plan, it is important to consider how taxes will impact the transfer of property. For a very small number of families, planning may be necessary to reduce estate and gift taxes and increase the wealth passed down to future generations. This chapter explains how the estate and gift tax works.

In the current environment, many estate and succession planning decisions are influenced not by estate or gift tax considerations, but by income tax consequences. This chapter discusses income tax considerations for the transition.

Selling assets, gifting assets, or holding them until you die all have different income tax consequences. This chapter reviews some income tax planning strategies, including the use of a like kind exchange, installment sales, charitable trusts, rental arrangements, and other options.

Estate and succession plans may include business entities to facilitate the transfer of the business before or after death. Entity planning should be a topic discussed with the estate and succession planning team. This video provides a general overview of different business entities and their uses.

Different business entities have different tax rules. These rules help determine which entity is best for certain purposes. This video reviews the general tax rules for partnerships, S corporations, and C corporations, and explains how an LLC can be taxed in any of these ways.

Business entities can be useful in a succession plan. This video discusses considerations for use of business entities in a farm estate and transition plan. 

Different goals require different planning strategies. This chapter discusses several strategies using business entities designed to achieve common succession planning goals. It also contrasts the use of a business entity with the use of a trust.