Farm succession planning allows you to transfer land, equipment, and farm operations to the next generation while reducing tax exposure and avoiding conflict. At Borakove Osman LLC, we represent farm families in Madison and Dane County who want a clear, structured plan for the future of their operation. The decisions involved affect your land, your income, and your family relationships, so having a plan in place gives you control over what happens next.
Why Work With Borakove Osman for Estate Planning for Farmers
We approach estate planning for farmers with a focus on continuity and real-world farm operations.
- Firsthand agricultural background. Attorney Shayna Borakove grew up in a farm family, which shapes how we approach succession planning and family decision-making.
- Tailored strategies. We take the time to understand your land, your operation, and your goals before recommending a plan.
- Transparent, flat-fee planning. Farm succession matters are typically handled on a flat-fee basis, so expectations are clear.
- Integrated legal planning. We align trusts, wills, and business entities into one coordinated strategy.
- Local insight. We work with farm families across Madison, Dane County, and South Central Wisconsin.
What Does a Farm Succession Lawyer Help You Do?
A farm succession lawyer helps you transition ownership and management without disrupting the operation. This includes both legal structure and practical planning.
We will help you:
- Transfer land, equipment, and agricultural assets
- Identify who will manage and operate the farm
- Structure ownership through trusts or business entities
- Plan for retirement while maintaining income
- Reduce the risk of disputes between family members
Farm succession planning differs from a standard estate plan because the farm is both a business and a family asset.
When Should You Start Estate Planning for Farmers?
Starting early gives you more flexibility. Many farm owners begin planning years before retirement so they can gradually shift ownership and responsibilities.
You should consider working with a farm succession lawyer if:
- You expect to retire within the next 5 to 15 years
- A child or family member is already involved in the farm
- The farm represents a large portion of your assets
- You want to avoid dividing land in a way that disrupts operations
A longer timeline allows for phased transfers and better planning outcomes.
How Do You Transfer a Family Farm Without Breaking It Up?
Without a plan, farmland is often divided or sold during probate. A structured approach helps preserve the operation as a whole.
We use several strategies, including:
- Trust-based planning to control how land and income are distributed
- Business entities, such as LLCs, to manage ownership interests
- Lifetime gifting strategies to gradually transfer assets
- Buy-sell agreements to address multiple heirs
Each plan is built around your family structure and the realities of your farm.
How Are Taxes Handled in Farm Succession Planning?
Taxes can affect whether a farm stays in the family. Estate taxes and capital gains may create financial pressure if not addressed early.
We help you evaluate:
- Federal estate tax exposure
- Capital gains tied to appreciated land
- Wisconsin-specific considerations
- Opportunities to structure transfers efficiently
A coordinated plan supports long-term financial stability.
What If Not All Children Want to Farm?
It is common for one child to take over the farm while others pursue different paths. This creates challenges around fairness and expectations.
We help you create a plan that:
- Transfers the farm to those continuing the operation
- Provides other assets or compensation to non-farming heirs
- Documents decisions clearly to reduce disputes
Addressing this early helps protect both the farm and family relationships.
How Is a Farm Valued for Succession Planning?
Before finalizing a plan, you need a clear understanding of what the farm is worth. This includes land, buildings, equipment, livestock, and business assets.
We coordinate with qualified appraisers familiar with agricultural property to ensure valuations support tax planning, buyouts, and fair distribution.
Build a Plan That Supports Your Farm’s Future
Your farm reflects years of work and long-term investment. A clear succession plan allows you to decide how it will continue.
At Borakove Osman LLC, we work with farm families in Madison and Dane County to create practical plans for ownership transfer and continuity. We will help you move forward with a strategy that fits your goals.
Contact Borakove Osman LLC to schedule a consultation and start planning your farm’s next chapter.
FAQ: Farm Succession Planning in Wisconsin
Can I transfer my farm during my lifetime instead of through a will?
Yes. Many farm owners use lifetime transfers, including gifts or sales, to gradually shift ownership.
Do I need both a trust and a business entity for my farm?
Often, yes. A trust can manage distribution, while an LLC or partnership structures ownership and operations.
What happens if I don’t have a succession plan?
The farm may go through probate and be divided among heirs, which can lead to disputes or the sale of assets.
How often should I update my farm succession plan?
Plans should be reviewed every few years or after major life or business changes.