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27 Drake J. Agric. L. 129 (2022)
Thy Will Be Done: Issues in Family Farm Transitions between the Farmers, Their Family, and New Agrarians

handle is hein.journals/dragl27 and id is 137 raw text is: THY WILL BE DONE: ISSUES IN FAMILY FARM TRANSITIONS BETWEEN THE FARMERS, THEIR FAMILY, AND NEW AGRARIANS Alexander C. Sandeen f I. Introduction.....................................................................................................130 II. Probate ...........................................................................................................132 A. Intestacy and Family Farms................................................................133 1. Common Issues in the Administration of Estates of Family Farms in Intestacy .................................................................................133 2. The Brain Drain and Intestacy..................................................135 B. Where There Is a Will, There Is a Way ..............................................136 1. Specter of Undue Influence..........................................................138 III. Non-Probate Transitions...............................................................................139 A. Living Trusts.......................................................................................140 1. I Can't Believe It's Not A Will.................................................141 2. Common Issues with Living Trusts..............................................142 B. Dynasty Trusts ....................................................................................144 1. The Allure of a Farming Dynasty ................................................144 2. The Costs and Consequences of Dynasty Trusts..........................147 IV. A Note on Selling the Farm .........................................................................149 V. Facilitating Successful and Sustainable Farming Operations........................152 A. Knowing Your Options ......................................................................152 B. Communication within the Familial Unit ...........................................153 1. Communicating within the Family Unit.......................................154 2. Supporting Mediation for Inheritance Challenges .......................155 C. A Note on the Rule Against Perpetuities ............................................156 V I. C onclusion...................................................................................................157 129 t Alexander C. Sandeen is a J.D. Candidate at Drake University Law School. He received his B.A. in Political Science from Iowa State University. He would like to thank Ralph Sandeen and Cherry Sandeen for their love and support.