Aging South Dakota Farmers Planting Plans For Estates

Jim Faulstich has farmed on the same land owned by his family since 1936.  Now, the 63-year-old farmer and rancher, who bought acreage from his parents in 1973, has an estate plan in place to ensure the operation stays in the family.

“The whole goal in our estate plan was not to take away from anybody or make anybody wealthy but to keep the operation in the family,” said Faulstich, who farms about 8,000 acres with this son-in-law in Hyde County. “I consider this as stability and taking care of the natural resources for the future. I want to target whoever shares that interest versus who just wants a nice check.”

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