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Farm Estate Planning: What will happen to Your Farm?

Photo by J. Biss

Photo by J. Biss

The question of what happens to the family farm is often riddled with many emotional opinions. So much so, that families may not communicate effectively about their wishes or plans. Many life events can change the dynamics of a family farm. Whether marriage, children, divorce, illness, retirement or death, significant events can require a plan or a change in the transition plan.

Planning in advance of a crisis or significant life event increases the chances that the family farm will successfully transition to someone who is ready to carry on the family business. Having a plan can also lead to clear communication that reduces the likelihood of family conflict and stress. Yet, four out of five Florida farmers do not have written estate plans.

You can take steps to protect your family and your family farm by attending one of the University of Florida IFAS Extension’s workshops on “Preparing for Later Life Farming.” This workshop will help you ensure that your wishes are honored when the time comes.

You and your family are invited to learn together how to:

  • Discuss the future of the farm

  • Assess your future financial needs

  • Develop an outline of a farm estate plan

Farm Estate Planning headerChoose from 3 Dates and Locations in FL in 2016:

  1. March 31 – Quincy Registration: http://bit.ly/AgSavesGadsden

  2. April 5 – Sebring Registration: http://bit.ly/AgSavesHighlands

  3. April 6 –Lecanto Registration: http://bit.ly/AgSavesCitrus

All Times: 8:30 am—4:30 pm eastern time

$ 25 first person & $ 5 each additional person/farm

Register online or contact Kendra Zamojski at for more information, and here is a printable flyer with  more details: Farm Estate Planning Flyer

 

PG

Author: Kendra Zamojski – hughson@ufl.edu

Kendra Zamojski is the County Extension Director and Family and Consumer Sciences Agent III in Leon County
http://leon.ifas.ufl.edu

Kendra Zamojski

Permanent link to this article: http://okaloosa.ifas.ufl.edu/newsletters/2016/02/13/farm-estate-planning-what-will-happen-to-your-farm/