More than 50 percent of Washington farm owners are over 60 years old, according to data from the agricultural census. As this large proportion of farmers plan to retire, there will be thousands of farm transfers occurring in Washington State. For orchards and vineyards, estate planning is critical because of their high capital investment and production risks. The key components of farm estate planning are to ensure that your assets provide the necessary resources upon which to live, are transferred according to your wishes, and estate taxes and court costs are minimized. Cash flow Most farm businesses have reinvested farm […]