Michael Baron | Ag Industry News - Farm and Livestock Directory

Prodigal Daughter [Q&A with Michael Baron]

Posted by Michael Baron | Apr 25, 2021 | Country Lifestyle, Keeping the Family Farm in the Family

The daughter of a farming couple close to their 70s decided to come back to the farm considers giving her and her husband their livestock and machinery to get them started. The couple is also considering a life estate to protect the property should they need long-term care, and ask Michael what considerations they should take.

Are They Waiting for Us To Die? [Q&A with Michael Baron]

Posted by Michael Baron | Mar 1, 2021 | Country Lifestyle, Keeping the Family Farm in the Family

Some of our in-laws keep coming out to the farm and mentioning what a nice inheritance it will be and how they’ll be able to buy the lake house, etc. These people can’t even get their credit cards sorted out or put any money away themselves.

Am I Too Old to Plan? [Q&A with Michael Baron]

Posted by Michael Baron | Jan 24, 2021 | Country Lifestyle, Keeping the Family Farm in the Family

Dear Michael: We are both in our 80s. Should we think “why bother” now, and live with the will we made forty years or so back? We are both in poor health and it”s probably too late to plan to protect our assets from Medicaid and long-term care costs if we need care. Are we too old to change our trajectory?

Coming to Grips With Farm Debt [Q&A with Michael Baron]

Posted by Michael Baron | Dec 15, 2020 | Country Lifestyle, Keeping the Family Farm in the Family

Every farmer believes the next year is the one that will pull them out – they are the ultimate gamblers. Of course, everyone thinks everyone else is doing good. Some of them had gambles that paid off, but just like at the casino, if one person wins $1,000 on a dollar slot machine, that means 999 were losers.

What Biden’s Win Might Mean For Your Taxes

Posted by Michael Baron | Nov 13, 2020 | Country Lifestyle, Keeping the Family Farm in the Family

Dear Michael: Not that we wanted it but it looks like we have a new president in Joe Biden. What does this mean for estate planning? Are we going back to income and estate taxes that will put farmers out of business? How long do we have before all these tax changes come into being? –Signed, “Taxed to Death”