Talking about estate planning is often difficult and implementing an estate plan can be even harder. Farmers are unique in that there is 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. According to Melissa O’Rourke, of the Iowa State Extension Service, there is a program helps them plan for that. 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 O.Rourke who is an Iowa State University Extension Farm Agribusiness Management Specialist. She is one of the speakers at the event.
Kelvin Leibold, Iowa State University Extension Farm Agribusiness Management Specialist will be the other 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 attendees are confused on how to build a plan for transferring farm assets or unsure what options are best for their farm operation and family, O’Rourke says they should attend this workshop.
Iowa State University (ISU) Extension and Outreach is offering the workshop on January 31, 2014 with registration starting at 9:00 am. The workshop begins at 9:30 am with adjournment at 4:00 pm at the Titonka Savings Bank, 101 Hwy 69, Forest City. Advance registration is required. The Evaluating Your Estate Plan workshop costs $50 per person and includes lunch. To pre-register call the Winnebago County Extension Office at 641-584-2261.