Farm business succession estate planning
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Farm Business Succession & Estate Planning. Dave Goeller Deputy Director North Central Risk Management Center Transition Specialist University of Nebraska 402 472 0661 [email protected] Team. Bob Parsons, U. of Vermont Jesse Richardson, Virginia Tech Jeff Johnson, Texas Tech

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Farm Business Succession & Estate Planning

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Farm business succession estate planning

Farm Business Succession & Estate Planning

Dave Goeller

Deputy Director

North Central Risk Management Center

Transition Specialist

University of Nebraska

402 472 0661

[email protected]


Farm business succession estate planning

Team

  • Bob Parsons, U. of Vermont

  • Jesse Richardson, Virginia Tech

  • Jeff Johnson, Texas Tech

  • Marsh Goetting, U. of Montana

  • John Baker, Iowa State

  • Dave Goeller, U. of Nebraska


Contributors

Contributors

  • Norm Dalsted, Colorado State

  • Gary Hachfeld, U. of Minnesota

  • Mike Sciabarrasi, U. of New Hampshire

  • Roger McEowen, Iowa State

  • Steve Richards, Cornell University

  • Danny Klinefelter, Texas A & M


What are the topics

What are the Topics?


What are the topics1

What are the Topics?

GoalsLong-Term Care

Estate PlanningFinancial Analysis

Business EntitiesValues

RetirementMissions Statements

GiftingStrategic Business Plans

Wills & Trusts Management Transfer

CommunicationFair vs Equal

Decision MakingFarm Business Meetings

Conflict ResolutionLegal Issues

Titling of AssetsMotivation

TaxationInsurance


What are the topics2

What are the Topics?

People IssuesTechnical Issues


What are the topics3

What are the Topics?

People IssuesTechnical Issues

CommunicationEstate Planning


Farm business succession estate planning

Do you want to have a “SUCCESSOR”?


Farm business succession estate planning

agrisk.umn.edu


Estate planning key questions

Estate Planning Key Questions

  • What do you own?

  • How is it Titled?

  • Who do you want to give it to?

  • When do you want to give it to them?

  • How long do you want to exert control?

  • What about Long Term Care?


Time management matrix

Urgent

Not Urgent

Important

Not Important

Time Management Matrix


Resources

Resources

  • David Goeller, UNL Farm Transition Specialist

    • Phone: 402-472-0661

    • Email: [email protected]

  • Joe M. Hawbaker, Attorney at Law

    • Phone: 402-558-3540

    • Email: [email protected]

  • Nebraska Farm Hotline

    • Phone 800-464-0258


Credits

Credits

  • David Aiken, Attorney at Law,

    • UNL Ag Econ Department

    • Phone: 402-472-1848

  • John Baker, Attorney at Law

    • Iowa State University

    • Director of the Iowa Beginning Farmer Center

    • 800 447 1985

  • Roger A. McEowen, Attorney at Law

    • Iowa State University

    • Associate Professor of Agricultural Law

    • Phone: 515 294 4076


Need for personal legal advice

Need For Personal Legal Advice

The information in this presentation and accompanying material is provided for educational purposes only. It is not a substitute for competent legal advice. Farmers and ranchers need professional legal and financial counsel in evaluating alternatives for legally structuring the farm business. This information is provided to help you better communicate with your professional advisors in analyzing your specific situation.


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