Whether you’ve been farming or ranching for 10 years or 60, every operation should have a long-term plan.
From successfully transferring operations to the next generation to providing for children who didn’t stay on the farm or ranch, SDSU Extension’s Sustaining the Legacy program can help.
The next round of Sustaining the Legacy, a series of farm and ranch estate planning conferences, is Nov. 2, 9 and 16, 2023, at the SDSU Extension Pierre Regional Center. Each day starts at 10 a.m. and ends at 4 p.m. CDT. Lunch is provided.
“No matter the size of your estate, there are wrong, right and better ways to create a family legacy,” said SDSU Extension Livestock Business Management Field Specialist Heather Gessner. “Learning about the different methods can help farmers and ranchers create a legacy they are proud of.”
Gessner said that without help, estate planning can be confusing, overwhelming and time-consuming. It can also be a challenge to find the right attorneys, insurance agents and accountants who specialize in agriculture. Sustaining the Legacy gives participants access to those professionals all at once.
Sustaining the Legacy has been the SDSU Extension farm and ranch estate planning and farm transition program since 2006. The multi-day format gives families more time to work together to create estate plans during the event. Gessner recommends families attend together so everyone hears the same message.
This year’s topics include:
• Trusts
• Limited Liability Companies (LLCs) and Limited Liability Limited Partnerships (LLLPs)
• Long-term care insurance
• Wills and probate
• Funding retirement
• Current and potential tax situations
Tickets are $70 per person before Oct. 16, after which tickets are $80 per person. People can register up to the day of the event if space is available. Space is limited and early registration is highly encouraged.
Future Sustaining the Legacy events:
• Dec. 5, 12 and 19. SDSU Extension Winner Regional Center. Early registration ends Nov. 23.
• Jan. 9, 16 and 23. SDSU Extension Mitchell Regional Center. Early registration ends Dec. 22.
• Feb. 6, 13 and 20. SDSU Extension Aberdeen Regional Center. Early registration ends Jan. 24.
• March 5, 12 and 19. SDSU Extension Watertown Regional Center. Early registration ends Feb. 21
Source : sdstate.edu