The state of Illinois is a leading producer of soybeans, swine, and corn. With its varied soil types and climate, farmers also cultivate a range of crops, including fruits, vegetables, and grains, as well as raise livestock such as sheep, poultry, and cattle, and produce hay, oats, and sorghum. As you drive across the state, you will see farms representing decades of family legacy, dedication, and back-breaking work.
Most families that own farms in the state want to pass the farm down to future generations. Unfortunately, in some instances, the Illinois Estate Tax can be a barrier to those goals. If there are no clear estate and succession plans, a family farm could be lost following the death of the primary owner.
If your family owns an Illinois family farm, you need to ensure that your heirs will be able to continue operating the farm for many more generations. An experienced Wheaton, IL estate planning attorney can help you do this in the easiest way possible.