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Sustain your legacy at farm, ranch transition conferences

c-George/Getty Images Calculator and pen with estate planning
PASS ON THE FARM: Every farmer’s hope is to be able to pass the family operation onto the next generation, and that can be done if planning starts today.
Trusts, life insurance and retirement planning will be just part of the information provided by South Dakota Extension.

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:

  • trusts
  • business structures, such as limited liability companies and corporations
  • life insurance
  • wills and probate
  • titles for property
  • contracts
  • 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.

To sign up, visit SDSU Extension. For questions and additional information, contact Gessner at [email protected] or 605-782-3290.

Source: South Dakota State University Extension is solely responsible for the information provided and is wholly owned by the source. Informa Business Media and all its subsidiaries are not responsible for any of the content contained in this information asset.
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