Extension and Farm Credit offers estate planning
Talking about estate
planning is often difficult and implementing an estate plan can be even harder.
Farmers are unique because
there isn't a distinct moment where they just walk out the door to retirement
as someone in a regular wage earning job might do.
Rather, farm families often
need to think about how to transition the farm business to the next generation
during a lifetime, as well as have an estate plan in place.
There are options they can consider
such as phasing out or transitioning to another generation.
The "Evaluating Your Estate
Plan" workshop will answer estate-planning questions and help prepare for
future farm transitions and estate planning.
"The program applies to
everyone - town and country, families, couples and individuals," says Melissa
O'Rourke, Iowa State University Extension farm and agribusiness management
specialist and one of the speakers at the event.
O'Rourke is an attorney
experienced in agricultural law and estate planning.
Kelvin Leibold, Extension
farm and agribusiness management specialist, will be the other featured
speaker. He joined ISU Extension in 1987 and has vast experience in working
with agricultural clients in farm and business planning.
The one-day workshop will
discuss the language of estate planning, gift, estate and inheritance taxes,
calculating retirement costs and many other areas vital to creating a good
For producers confused on
how to build a plan for transferring farm assets or unsure what options are
best for their farm operations and family, ISU Extension advises them to attend
"We're really excited about
this workshop because it doesn't just stop at providing valuable information
for anyone concerned about estate and transition plans," says O'Rourke.
"Everyone will participate
in a hands-on analysis and discussion of case studies that will help folks apply
the information to their own situations."
ISU Extension and Outreach
- Buena Vista County and Farm Credit Services of American in Storm Lake is
offering this workshop on Friday, March 8th in Storm Lake at the ISU Extension and
Outreach office at 824 Flindt Dr. Registration will begin at 9am with
adjournment at 4pm.
Advance registration is
required as space is limited. Cost of the Evaluating Your Estate Plan workshop
is $50 per person and includes lunch.
To register call your
Buena Vista County Extension Office at 712-732-5056.