Heidi Krogstad

[Heidi Krogstad @HeidiKrogstad]

Momentum is growing for the ASAP Act which would allow Medicare to cover blood tests that can screen for Alzheimer’s before symptoms appear. @SenKevinCramer,thanks for cosponsoring ASAP, please help get it across the finish line. #ASAPAct

[Heidi Krogstad @HeidiKrogstad]

Two new blood tests to diagnose Alzheimer’s were just cleared by the FDA for people with cognitive impairment. @SenKevinCramer, please support a $187.21M increase in dementia research funding at the @NIH to fund more scientific breakthroughs. #ENDALZ

[Heidi Krogstad @HeidiKrogstad]

@clintwfischer Is this standard or state specific?

[Clint Fischer @clintwfischer]

Here's a phased, lifetime farm transition strategy:

1/ Separate the land from the operations.

Mom & Dad own $2 million of operations assets.

•Grain
•Livestock
•Machinery
•Tools & Equipment
•Other operating assets
•Basically everything but the land

2/ They put those assets into an LLC and each own 50%.

The farmland stays outside the LLC.

Their daughter & SIL are farming with them and eventually taking over.

3/ Mom & Dad start gifting ownership in the operations LLC to them every year.

In 2026:

Dad → Daughter: $19,000
Mom → Daughter: $19,000
Dad → SIL: $19,000
Mom → SIL: $19,000

That’s $76,000 of LLC units transferred in year one using the annual gift tax exclusion.

Then they do it again next year.
And the year after that.

Assuming the annual exclusion increases $1,000 each year, after 15 years they’ve transferred about $1.56 million of a $2 million operation.

No IRS filings required.

New ownership =
Daughter & SIL: 78%
Mom & Dad: 22%

Daughter & SIL become majority owners around year 11.

But maybe more importantly is the next generation gets skin in the game.

They aren’t just working for Mom & Dad hoping someday the farm becomes theirs.

They actually own part of the operation.

They share in the profits.

They share in the losses.

They participate in the upside of what they’re helping build.

And their ownership can increase a little bit every year while Mom & Dad are still around to help with the transition.

The land is a separate conversation that often involves off-farm children.

But for the operating side of the farm, sometimes succession doesn’t require one giant transaction.

You can start transferring ownership a little at a time.

*obviously this assumes no change in LLC valuation over time which is unrealistic, but it's simplified to show the concept

[Heidi Krogstad @HeidiKrogstad]

Alzheimer’s is the 5th leading cause of death for Americans over 65, but preventions and treatments are quickly emerging thanks to investments in research. @SenKevinCramer please keep the momentum going by supporting a $187.21M increase in research funding at the @NIH in FY27.

[Heidi Krogstad @HeidiKrogstad]

@clintwfischer Lucky I only have one so it isn’t an issue. But I would say same amount for each child. Every kid is different but they should each have the same helping hand. The parents will need to figure out what that dollar amount is though.

[Clint Fischer @clintwfischer]

The auto repair shop I use is 5 miles of gravel roads from our small town.

He used to own a bigger shop in a decent-sized (for eastern SD) town with higher volume and multiple employees.

He sold it, built a smaller shop on his farm, and eliminated his 15-mile commute.

He told me he can charge much less for the same work because his overhead is way lower.

And he does.

My wife and I drive older, high-mileage vehicles, so we have our share of maintenance and occasional repairs.

The first few times a sizeable repair came up, I called other shops for quotes.

He was always 15-25% lower. Plus, he does great work.

His son joined him a couple years ago. They both live on the same farm and walk to the shop each morning.

Father & son working side by side, passing the savings along to customers, taking pride in their work, and just being salt-of-the-earth folks.

They’ve earned a ton of loyalty from me. I’ve recommended them to dozens of people.

The minor inconvenience of driving a few miles out of town is well worth supporting their livelihoods.

Kudos to all the small businesses like theirs servicing rural America.

[Heidi Krogstad @HeidiKrogstad]

Researchers at #AAIC26 in London shared that a simple blood test can help predict future cognitive decline in people who are symptom-free.@SenKevinCramer the science is ready but the law isn’t. Please work with your colleagues to pass the ASAP Act. #ENDALZ

[Senator Kevin Cramer @SenKevinCramer]

Too many families know the heartbreak of Alzheimer’s, including mine. When advocates from Fargo, Grand Forks, and Minot came to Washington, they shared their stories and the challenges facing families across North Dakota. Glad to support the ASAP Act, which would provide Medicare coverage for new blood tests to help diagnose Alzheimer's and improve care for patients living with the disease.
https://t.co/V1oarSPPqV

[Heidi Krogstad @HeidiKrogstad]

Researchers at #AAIC26 in London shared that a simple blood test can help predict future cognitive decline in people who are symptom-free. @SenKevinCramer the science is ready but the law isn’t. Please work with your colleagues to pass the ASAP Act. #ENDALZ

[Heidi Krogstad @HeidiKrogstad]

Nine in 10 Americans say they would want a simple blood test to diagnose Alzheimer’s. @SenKevinCramer thank you for cosponsoring the ASAP Act which would expand access to these tests. Please work with your colleagues to move this bill forward ASAP! #ENDALZ

[Heidi Krogstad @HeidiKrogstad]

@SenKevinCramer Thank you for taking the time to meet with us.

[Senator Kevin Cramer @SenKevinCramer]

Alzheimer’s has affected my family and millions of other Americans. Advocates from Fargo, Grand Forks, and Minot came to Washington to tell their story many of us know all too well. I am committed to supporting those living with the disease, their families, and the search for a cure.

[Red River Boys Hockey @RRHSBoysHockey]

Home game for the RIDERS tonight! Here is your Varsity lineup!
#saddleup

[Heidi Krogstad @HeidiKrogstad]

.@RepArmstrongND @SenKevinCramer @SenJohnHoeven Please support an additional $226 million in annual funding for Alzheimer's research activities at the National Institutes of Health #ENDALZ

[Heidi Krogstad @HeidiKrogstad]

.@POTUS Tell @CMSgov to stop blocking access to FDA-approved Alzheimer’s treatments now! #AccessNow

[Heidi Krogstad @HeidiKrogstad]

@UNDsports #collegecolorsday #UNDProud

[Heidi Krogstad @HeidiKrogstad]

Please help advance H.R. 3085, the #ENACTAct @RepArmstrongND #ENDALZ @EnergyCommerce

[Heidi Krogstad @HeidiKrogstad]

.@RepArmstrongND @SenKevinCramer @SenJohnHoeven Please support an additional $226 million in annual funding for Alzheimer's research activities at the National Institutes of Health #ENDALZ

[Thompson Law @GermanLawWealth]

Grab a cozy blanket, settle into your favorite chair, and learn all about wills, trusts, and nursing home protection!