February 29, 2016
The South Dakota State University Extension Service is asking South Dakota farmers and ranchers and their family members to participate in an estate and transition planning survey.
"Your input will provide us with the current level of knowledge on the topic and drives the next generation of educational programming in this area," says Heather Gessner, SDSU Extension livestock business management field specialist.
"The transition of land, equipment, livestock and personal assets to the next generation will occur in every family when the owners pass away. However, it is not an easy topic to think about, let alone discuss with family members," she says.
One of the main reasons families do not get their estate or transition plans written down and implemented is that the parents are unsure of their children's expectations regarding the estate.
"I have worked with many families that do not communicate their plans, so assumptions are made, and I believe many of those assumptions are incorrect," she says.
SDSU Extension wants to know what the expectations of all family members really are, so they can provide the needed answers and information through estate planning and farm transition conferences.
There are sections in the survey for the parents, children returning to the farm and those not returning to the farm as well as the spouses of the children.
The survey is designed to take 30 minutes or less to complete.
Find the survey at http://sd-farm-and-ranch-family-estate-and-transition-survey.questionpro.com.
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