Pella Chronicle

Agriculture

May 29, 2012

Workshop offers estate plan options for farm families

Pella — Talking about estate planning is difficult and implementing an estate plan can be even harder. And farmers are unique when it comes to retirement and retirement planning. Iowa State University Extension and Outreach understands their situation and is offering Evaluating Your Estate Plan workshops at seven locations during June to discuss estate planning for farm families.

“For farmers, there isn’t a distinct moment where they just walk out the door to retirement as someone in a regular wage earning job might do,” said Kelvin Leibold, farm management specialist with ISU Extension and Outreach. “Rather, farm families often need to think about how to transition the farm business to the next generation during lifetime, as well as having an estate plan in place.”

There are options they can consider such as phasing out or transitioning to another generation. The Evaluating Your Estate Plan program can help in the planning process.

The Evaluating Your Estate Plan workshop answers estate planning questions and helps prepare for future farm transitions and estate planning. Questions often include: Who needs to be involved? What information do I need to gather? When is it the right time to start? Where do I start? How do I decide what to do?

Presenters for the workshop are Leibold and Melissa O’Rourke, ISU Extension and Outreach farm and business management specialist. Leibold joined ISU Extension in 1987 and has vast experience in working with agricultural clients in farm and business planning. O’Rourke is an attorney experienced in agricultural law and estate planning.

The one-day workshop will cover the language of estate planning, gift, estate and inheritance taxes, calculating retirement costs, and many other areas vital to creating a good estate plan. The workshops help anyone who is confused about building a plan for transferring farm assets or unsure what options are best for their farm operation and family.

Text Only
Agriculture
Features
Facebook
AP Video
Raw: Massive Dust Storm Covers Phoenix 12-hour Cease-fire in Gaza Fighting Begins Raw: Bolivian Dancers Attempt to Break Record Raw: Israel, Palestine Supporters Rally in US Raw: Palestinians and Israeli Soldiers Clash Raw: Air Algerie Flight 5017 Wreckage Virginia Governor Tours Tornado Aftermath Judge Faces Heat Over Offer to Help Migrant Kids Kerry: No Deal Yet on 7-Day Gaza Truce Kangaroo Goes Missing in Oklahoma More M17 Bodies Return, Sanctions on Russia Grow Gaza Residents Mourn Dead Amid Airstrikes Raw: Deadly Tornado Hits Virginia Campground Ohio State Marching Band Chief Fired After Probe Raw: Big Rig Stuck in Illinois Swamp Cumberbatch Brings 'Penguins' to Comic-Con Raw: Air Algerie Crash Site in Mali Power to Be Restored After Wash. Wildfire Crashed Air Algerie Plane Found in Mali Israel Mulls Ceasefire Amid Gaza Offensive
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Obituaries