Farm Succession and Estate Planning Educational Series in January 2015

Nora Rhoades, Family & Youth Development Agent

The Kansas producer’s average age is 58, indicating there will be a major transfer of farm ownership throughout the next 20 years.

The day sons or daughters announce they’d like to take over the family farm or ranch can be a proud one, but it can also be fraught with communication challenges, legal pitfalls and differing expectations.

To ensure the successful transition of farm ownership and management across generations,

it is essential to have a business succession and estate plan. Developing and communicating these plans to family members can be a challenge; however, the reward of sustaining the well-being of your family is worth the effort. It is important to regularly discuss farm succession and estate planning with your parents, siblings, children, grandchildren, and other appropriate stakeholders.

To help Kansas farmers and ranchers with the succession process, K-State Research and Extension’s Post Rock District is hosting a “Strengthening Rural Families Educational Series” scheduled on January 7th and 14th, 2015. The educational series will be held at the Smith Center Firehouse from 10:00 a.m. to 3:00 p.m. for each session. The fee for participation is $25 person or $75 per family with up to 5 family members and payment is due at the time of registration. The registration includes participation in both days of the series and lunch will be provided along with a packet of materials.

Participants will gain knowledge and resources about the basics of estate planning, farm transition planning, rural business succession planning, strategies to maintain strong relationships, legal aspects of estate planning, and decision-making tools to assist families.

Featured presenters include:

· Dr. Ron Hansen — University of Nebraska-Lincoln Professor, Neil E. Harlan Distinguished Professor of Agribusiness
· Dr. Forrest Buhler — Kansas Agricultural Mediation Services, Staff Attorney
· Morgan Gauby — Edward Jones Financial Advisor
· Dr. Charlotte Shoup Olsen — K-State Research and Extension Family Systems Specialist
· Dr. Gregg Hadley — K-State Assistant Director of Extension, Agriculture, Natural Resources and Community Development

The meetings are partially funded by three different grants and donations including the Dane G. Hansen Foundation, Edward Jones Investments, K-State Research and Extension Epsilon Sigma Phi Endowment and the Smith County Community Foundation.

Pre-registration is requested by Wednesday, December 31 to any of the Post Rock Extension District Offices in Beloit, Lincoln, Mankato, Osborne or Smith Center. For more information visit the Post Rock Extension District website (www.postrock.ksu.edu) or contact your local Post Rock Extension District Office.

Complete event details: http://www.postrock.ksu.edu/p.aspx?tabid=59