An estimated 70 percent of U.S. farmland will change hands over the next twenty years. It is important for producers to smoothly transition between generations or the future success of the farm could be at risk! Important issues to consider include preparing the family and the business, confronting issues of transition, fair treatment of heirs, developing a plan, and choosing the proper estate planning tools.
A meeting has been scheduled entitled, "Preserving the Family Farm: What happens to the farm when life happens to you" Nov. 18 from 10 a.m. to 3 p.m., to discuss these important topics. It will be held at the Rice County Extension Building, 701 E. Main, Lyons. Speakers include: Terry Arthur, Kansas Farm Bureau General Counsel, Mark Schwarzentraub, South Central Farm Management Association Economist, and Rodney Jones, Kansas State University Professor Agriculture Economics.
Come learn how good communication skills, family meetings, and tax considerations can affect the future of the farm. To pre-register or to obtain a brochure, contact the Rice County Extension Office at 620-257-5131 by Nov. 12.