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Evaluating Your Estate Plan – A workshop for farm families

AgDM Newsletter
January 2012

datesTalking 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. Rather, farm families often need to think about how to transition the farm business to the next generation during a lifetime, as well as have an estate plan in place. There are options they can consider such as phasing out or transitioning to another generation; this workshop helps 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 and agribusiness management specialist and one of the speakers at the event. O’Rourke is an attorney experienced in agricultural law and estate planning. Kelvin Leibold, extension farm and agribusiness management specialist, will be the other featured speaker at the workshop. Leibold joined ISU Extension in 1987 and has vast experience in working with agricultural clients in farm and business planning. 

The one-day workshop will discuss the language of estate planning, gift, estate and 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. “We’re really excited about this workshop because it doesn’t just stop at providing valuable information for anyone concerned about estate and transition plans,” says O’Rourke. “Everyone will participate in a hands-on analysis and discussion of case studies that will help folks apply the information to their own situations.”

ISU Extension and Outreach is offering the workshop at five locations in February. Registration at each site starts at 9 a.m. with adjournment at 4 p.m. Advance registration is required as space is limited. Cost of the Evaluating Your Estate Plan workshop is $50 per person and includes lunch. To pre-register call the county extension office of the preferred site listed on this page. For more information, visit the Ag Decision Maker website.


Ann M. Johanns, extension program specialist, 641-732-5574,