The Surprising Truth About Farm Trusts and New Tax Laws You Need to Know

Welcome to the Farms Advice Podcast. As most farmers are overwhelmed, underwhelmed and everything in between by the recent tax reforms and uncertain future legislation. But what if the key to safeguarding your farm and growing wealth is understanding the upcoming changes—and knowing when to act?

This episode dives into the complex world of new trust and CGT laws, revealing how they could impact your family farm's structure, succession plans, and asset protection strategies.

Join us as we break down the proposed 30% trust taxation minimum, the potential for increased capital gains taxes, and the implications for trust structures used in agriculture.

Brian Wray, a seasoned tax advisor at Boyce Brian Ray, shares concrete insights into how these reforms could reshape your financial and estate planning. You'll discover how primary production income might be carved out versus other income streams, and what that means for your assets and legacy.

We explore practical strategies, including the timing of restructuring, the best structures for asset protection, and the importance of aligning your goals with evolving legislation.

Whether you're contemplating purchase decisions, succession planning, or asset transfers, this episode equips you with the knowledge to make informed, confident choices before new laws take effect—potentially as early as 2027.

Why does this matter? Because acting too soon or too late could cost you dearly, especially given the uncertain political landscape and the possibility of policy reversals. Get ahead of the curve with expert insights that help you navigate structural risks, maximize your tax benefits, and secure your farm’s future. Perfect for farmers, landowners, and agricultural families looking to safeguard their legacy amid shifting legislation—this episode is your essential guide to future-proofing your farm business.

Stay informed, stay strategic, and keep your farm thriving. Brian Wray is head of tax advisory at Boyce Brian Ray, with over 15 years of experience helping farmers navigate complex tax and succession issues, making him a trusted voice in agricultural finance.

Head to Boyce for more information about your scenario or your own accountant/advisors.

https://www.boyceca.com/

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