BROOKINGS — SDSU Extension will host Sustaining the Legacy Conference Sept. 14. This estate planning and farm transition conference will be held in Sioux Falls, at the SDSU Extension Sioux Falls Regional Center (2001 E. Eighth St., Sioux Falls, SD 57103).
The conference begins at 8 a.m. with registration and breakfast and runs until 5 p.m.
The 2017 Sustaining the Legacy conference will cover a variety of topics specialized for agricultural producers in three categories:
• Those with children/heirs returning to the operation.
• Those with no heirs returning to the operation.
• Those that do not know if they will have heirs returning.
“There are a lot of tools available to the agriculture community to accomplish their estate planning goals,” said Heather Gessner, SDSU Extension livestock business management field specialist. “The goals you have for your operation will direct which tools you use and how they are implemented.”
The conference includes two general sessions and four breakout sessions. Contact Heather Gessner or the SDSU Extension Sioux Falls Regional Center (605.782.3290) for registration information.
To cover expenses registration is $50 per family, up to five family members. Registration includes breakfast.
Seating is limited and late registration of $100 will be charged after September 7.
“There are many components to estate planning that all family members need to be aware of, however, there are differences between the tools that might be used if you know an heir is returning compared to those that know they will not have an heir taking over the operation. The breakout sessions are designed to address those differences,” Gessner said.
Breakout topics will include:
• Land rental rates and fair rent determination.
• Trusts, business structures (LLC, Corporations, etc.).
• Powers of attorney, funeral planning, life insurance considerations, long term care insurance.
• Retirement planning with and without heir returning.
• Wills and probate.
• Titling property.
All family members are encouraged to attend as there are multiple breakout sessions and information for all involved with the family business.
Sponsor booths will also be available for attendees to talk to industry professionals that can help develop the estate plan or provide the tools needed.
Consider this opportunity as an low-cost opportunity to consult with attorneys, life insurance and long term care insurance providers, financial planning agents and others.
For questions regarding the Sustaining the Legacy conference, contact Heather Gessner, 605-782-3290 or [email protected]