FOOD & AGRICULTURE QUARTERLY | JUNE 2026
In certain states, life insurance proceeds are generally exempt from inheritance tax, making life insurance an especially effective planning tool for farming families concerned about preserving land and operational continuity.
Other techniques may involve business entity restructuring, succession planning arrangements, conservation strategies, charitable planning, or specialized valuation discounts. The appropriate solution depends heavily on the family’ s goals, the structure of the farming operation, and whether the primary objective is tax minimization, business continuity, or preserving the farm for future generations.
The important point is this, estate planning for farms is not simply about avoiding probate. It is about making sure the next generation inherits the farm itself, not just the burden of figuring out how to keep it.
Much like farming itself, successful estate planning requires preparation long before the harvest arrives. Families that plan early often have the greatest ability to preserve the land, minimize forced sales, and maintain the continuity of the operation for generations to come. Because every farming operation is different, there is rarely a one-size-fitsall solution. Farming families concerned about preserving the family farm for future generations should consult with experienced estate planning counsel to evaluate which planning strategies may be most appropriate for their specific circumstances.
Ron is an associate and his practice encompasses wills, trusts, and business succession planning for closely-held businesses. He can be reached at 412.235.1462 or rsessa @ porterwright. com.
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