Sustaining the Legacy has been the estate planning and transition program for farms and ranches since 2006 at South Dakota State University Extension. Over the years, the program has hosted multiday events and large, single-day conferences.
Starting this fall, SDSU Extension will host two-day Sustaining the Legacy conferences in five different locations across South Dakota.
“With the drought this season, many producers are not able to leave their operation for a large, multiday conference,” says Heather Gessner, SDSU Extension livestock business management field specialist. “By bringing the conference to them, it will be easier for them to participate and gain the information they need to develop a plan that accomplishes the goals of the family and the operation to ensure a continuation of agricultural production, family values and traditions, and Main Street businesses and schools.”
The conference is designed for farming and ranching families at all stages of operation transition. Participants will learn about methods to pass on farm and ranch assets and businesses, as well as methods to provide financial inheritance to non-farming and ranching children.
Topics covered will include:
- business structures, such as limited liability companies and corporations
- life insurance
- wills and probate
- titles for property
- retirement planning for landowners
- access to retirement benefits (Medicare, Social Security)
- elder and end-of-life care planning
Estate planning and farm transition attorneys, in addition to other industry experts, will present the material. Participants will also be given the opportunity to sign up for further estate planning assistance from a certified farm and ranch transition coordinator, financial counseling from an accredited financial counselor and care conversations with a trained gerontologist.
Find a meeting
Locations and dates will be:
- Rapid City, Oct. 21-22
- Aberdeen, Nov. 15-16
- Pierre, Dec. 9-10
- Mitchell, Jan. 11-12
- Yankton, Feb. 7-8
Each location will be limited to 30 participants. “We are limiting participation at each location to create an interactive learning environment to maximize impact for conference attendees,” Gessner says.