EMMETSBURG, Iowa — Talking about estate planning is often difficult and implementing an estate plan can be even harder. Farmers are unique in that 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. There are options they can consider such as phasing out or transitioning to another generation, and this program helps them plan for that.
The “Evaluating Your Estate Plan” workshop will answer estate planning questions and help prepare you for future farm transitions and estate planning. “The program applies to everyone- town and country, families, couples, and individuals” according to Melissa O’Rourke, Iowa State University Extension Farm & Agribusiness Management Specialist. Kelvin Leibold, Iowa State University Extension Farm & Agribusiness Management Specialist will be the featured speaker at the workshop.
The workshop will discuss the language of estate planning, gift, estate & inheritance taxes, calculating retirement costs, and many other areas vital to creating a good estate plan. If you are confused on how to build a plan for transferring farm assets or unsure what options are best for your farm operation and family, you should attend this workshop.
The topics being covered at the workshop are as follows: Language of Estate Planning, Property Ownership, Use of Business Entities, Transferring Decision Making Control, Gift, Estate and Inheritance Taxes, Calculating Retirement Costs, Setting goals for retirement or farm transition, steps to implementing your Estate Plan and much more.
Iowa State University (ISU) Extension and Outreach is offering the workshop on January 9, 2018 with registration starting at 9:00 am. The workshop begins at 9:30 am with adjournment at 4:00 pm at the Palo Alto County Extension and Outreach basement meeting room. Advance registration is required by. Palo Alto County Extension and Outreach and Palo Alto/Emmet Women Land and Legacy are co-sponsoring this workshop to help offset some of the expenses. The Evaluating Your Estate Plan workshop costs $50 per person and includes light breakfast, lunch, snacks and materials. To pre-register call the Palo Alto County Extension Office at 712-852-2865 by January 2, 2018.
— Iowa State University Extension and Outreach
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