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Estate Planning, Farm Succession Big Topics at Farm Bureau Meeting

Estate Planning, Farm Succession Big Topics at Farm Bureau Meeting
Ag Law Foundation plans new full-day meeting with attorneys and others as speakers.

What is the thing farm families mention most often that they want to accomplish? What is the thing that farm families in reality accomplish the least often? In some cases it could be the same answer: Estate and or succession planning.

"We're going to give families a chance to take action on something they know they need to do," says Mark Thornburg, attorney with Indiana Farm Bureau, Inc. It's one of what could be several new courses offered for farmers and others by the Indiana Ag Law Foundation, a group started by Indiana Farm Bureau.

Related: The Secret To An Effective Farm Estate Plan

Pass along the farm: You may want the next generation to continue the farm and may have mentioned it, but if you haven't planned for it, it may not happen.

John Shoup is the attorney who heads up the Indiana Ag Law Foundation. He is originally from a Clinton County hog producing family. "Our goal this summer is to present educational offerings, one of them being a day-long program on estate and succession planning . They're not the same thing, but both are important."

The program will be July 17 at Indiana Farm Bureau's Indianapolis location. Several of those speaking will be attorneys, and others will be experts in their field, such as Dan Gordon, talking about long-term care planning, an issue that grows out of estate and succession planning.

"Our primary target to attend are farmers," Shoup says. "Many of them know it's time they have a conversation on these topics, but they don't know where to start. The program is strong enough that some ag attorneys or those wanting to practice ag law may also attend."

Related: How To Bring Up Estate Planning With Mom and Dad

Since Indiana Farm Bureau is a partial sponsor on the class, the cost is only $50 per person if you register before June 16. If you register after June 16 it is $75 per person. Space is limited, so sign up early.

Visit the Website www.inaglaw.org for more information and to register for the event.

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