Nebraska Department of Agriculture (NDA) Director Greg Ibach is encouraging farm and ranch families to take advantage of free workshops being held statewide to address succession and estate planning for agriculture operations.
“It is not an easy task to decide the best path to take in handing down a farm or ranch operation from one generation to another,” said Ibach. “These free workshops offer families the information they need to begin the planning process. It’s also an opportunity for farm or ranch owners who don’t have family members available to take over their operation, to learn more about other options that can help a beginning farmer or rancher get started in the industry.”
The one-day workshops will be held at various locations across Nebraska. The first one is scheduled for Dec. 2, in Hartington. Details and registration (required) can be found at www.nextgen.nebraska.gov. Dave Goeller, with the University of Nebraska-Lincoln Northeast Center for Risk Management Education, and Joe Hawbaker, an agriculture law attorney based in Omaha, are the workshop presenters.
“Hartington is located in the core area of dairy production in Nebraska,” said Ibach. “The dairy industry is a sector that needs, and can benefit from, sound succession and estate planning to assure the next generation takes over an operation that might otherwise disappear.”
The free workshop will address such topics as:
- the stages of succession planning;
- the importance of communication;
- beginning farmer loan and tax programs; and
- the use of trusts, wills, life estate deeds and business entities.
The workshops are being hosted in partnership by the NDA, University of Nebraska Extension and Legal Aid of Nebraska. Farm and ranch succession and estate planning workshops will be held at other locations across the state with dates and sites to be posted on www.nextgen.nebraska.gov as they become available.
Source:unl.edu