Land Transition Can Lead to Unintended Consequences
by Allan Vyhnalek, University of Nebraska Extensions
Grandpa and Grandma farmed. They retired. They had two irrigated quarters. They had two sons who had started farming operations themselves. So, their transition plan was to give a quarter to each of the sons at their passing. Grandpa passed away, followed by the Grandmother about a year or so later. The lawyer handling the estate was not given specific instructions about the transfer of the quarters. He just put number one and number two in a hat, the sons drew a number.
Then there were problems. Turns out that one quarter was nearly perfect. Good soil, highly productive, and had a good well. The second quarter was sandy, alkali spots, significantly less productive and had a well that was in trouble, actually sucked air at times. There was a huge argument about being fair. One son felt it was fair that each got a quarter. The son who got quarter two didn’t feel like he was treated equitably at all. See Entire Article
New article May 16, 2018 by Farm Credit Bank of Texas (land.com)
The largest overhaul of the U.S. tax code in three decades went into effect this year, impacting farmers, ranchers and other rural landowners in a variety of ways. For the most part, financial experts anticipate benefits for these groups.
“The 2018 tax law changes include several items that I feel will be beneficial to agricultural producers,” says Burl Lowery, a Brownwood, Texas, certified public accountant and director of Central Texas Farm Credit. “The increase in the exemption in estate and generation-skipping taxes to $11.2 million in 2018 will allow more farmland to be passed to future generations with less or no estate tax.” READ ARTICLE
The saying goes, “Good fences make good neighbors.” Unfortunately, as many rural landowners know, fence issues also can create extremely strained relationships among neighbors.
If a cow gets onto a roadway and is hit by a motorist, can the livestock owner be liable? What should you do if there are stray livestock on your property? If a boundary fence falls into disrepair, who is responsible for footing the bill to do the needed repairs? What can you do about frustrating tree limbs from the neighbor’s tree that are hanging over your property? These are just a few of the issues that commonly plague landowners, and their lawyers, when it comes to fence law. READ ARTICLE
Tiffany Dowell Lashmet is an agricultural law specialist with Texas A&M AgriLife Extension and co-author of “Five Strands: A Landowner’s Guide to Fence Law in Texas.”
Never Buy Land Without an ALC…. 4 reasons from an article on Land.com written by Luke Worrell, ALC
This article outlines 4 of the reasons you should never buy land without an ALC (Accredited Land Consultant)…..Trust….Skill….Knowledge…Connections.
“When it comes to selling land, I am absolutely convinced that ALCs are the best in the business. For starters, you can only become a designated ALC after you have proven yourself in the field.”
Read the entire article here.
Crop Insurance: Priority #1, by Agri-Pulse Communications
No matter who wins this November’s presidential election, one of the first items facing a new Secretary of Agriculture will be developing a 2018 farm bill, a process sure to begin early in 2017. As we start that effort, it is worth noting that for all its rich diversity, American agriculture seems to be united behind a few large overarching issues: coordinated and scientific regulatory policy by EPA, FDA, and USDA; healthy trade promotion; biotechnology; and farm labor issues, including immigration.
READ ENTIRE ARTICLE
Texas Supreme Court: Accommodation Doctrine Applies to Groundwater
Texas Agriculture Law Blog: Agrilife.org
In an important decision that could have far-reaching impacts, the Texas Supreme Court sided with the Coyote Lake Ranch, holding that the accommodation doctrine does apply to groundwater in Texas.
This case is extremely important for Texas landowners and groundwater owners. For the first time, the Texas Supreme Court announced that the accommodation doctrine, previously applied only in oil and gas severances, will apply in groundwater severances as well.