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Stay Informed

 

Estate planning workshop offered virtually July 20

May 22, 2023, 11:00 AM by Kathleen M. Dutro, INFB Marketing Team

 

“Estate & Succession Planning for the Family Farm” will be offered virtually Thursday, July 20, from 9 a.m. to 12:15 p.m. Eastern time.

Hosted by the Indiana Agricultural Law Foundation, this will mark the 10th year for the workshop, which was ranked as one of the organization’s most popular workshops during Indiana Farm Bureau’s most recent survey of members.

The event is free, and registration opens June 14. Speakers and topics will include:

Estate Planning 101 – John Colin, attorney, Simpson Colin LLC.

Colin will discuss the legal tools necessary to build and implement an estate and succession plan and key issues related to agricultural enterprises. He also will highlight issues related to the competency of individuals creating the estate plan and the potential undue influence of those benefitting from the plan.

Four Ways to Lose the Family Farm – Dan Gordon, partner, Gordon & Associates, P.C.

This presentation will highlight legal options to avoid the pitfalls of estate taxes, nursing care, family disputes and liability creditors. Gordon will use his years of experience representing farm families to address these important issues.

Bringing the Next Generation into the Farming Operation – Matt Folz, partner, Dobbs & Folz LLC.

How to bring the next generation into farming is a huge part of succession planning, in addition to the "who gets what when you die" issues. Separating land from operations can make succession planning more manageable, and transitions of operations during lifetime must be coordinated with the estate plan for assets following death. Folz will discuss these important issues, as well as the importance of getting organized and taking steps to be more deliberate about the planning process.

Health Plans for the Family Farm – Steven Allen, manager, Indiana Farm Bureau Health Plans.

Many farm families do not have access to traditional, employer-provided health plan options. Health plan costs, catastrophic illness, and the ability to bring new family members into the operation all influence the estate and succession plan. Allen will discuss these considerations.

More information and a registration link can be found at www.infb.org/events.

 

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