Estate planning workshop set for Feb. 9 in North Platte
All are welcome to attend a free workshop on business succession and estate planning for farm and ranch owners, families and beginners. The workshop will be held in North Platte, Feb. 9, 2016 at the West Central Research & Extension. The workshop runs from 9:30 a.m. to 2:30 p.m. Lunch will be provided. To register (and for more information) call the Rural Response Hotline at 1-800-464-0258 or the Extension office at 308-532-2683.
The workshop is about farm and ranch business succession, family estate planning and beginning farmer programs. It is intended to be useful for established farm and ranch owners, for their successors, and for beginners.
Topics include: the stages of succession planning, contribution and compensation, balancing the interests of on-farm and off-farm heirs; the importance of communication, setting goals, analyzing cash flow, and balancing intergenerational expectations and needs; beginning farmer loan and tax credit programs; the use of trusts, wills, life estate deeds and business entities (such as the limited liability company) in family estate and business succession planning; buy-sell agreements, asset protection, taxation (federal transfer taxes, Nebraska inheritance tax, basis adjustment), and essential estate documents.