Farm transition planning programs held in Sioux Falls and Pierre

BROOKINGS — Passing the family farm or ranch operation on to the next generation is the focus of SDSU Extension’s Sustaining the Legacy programs held in Sioux Falls and Pierre.

The Sioux Falls event will be held February 1, 8 and 15 and the Pierre event will be held February 13, 20 and 27.

“Bringing the next generation back to the family farm or ranch is important to many South Dakota families,” said Heather Gessner, SDSU Extension livestock business management field specialist. “Before that decision is made, there are many intentional conversations and plans that need to be covered.”

Topics will include the following:

• Wages and salary compensation.

• Policy creation; creating a business structure.

• How life insurance, trusts and other tools can aid with the transition.

• New tax laws, and other details related to passing an agriculture operation to the next generation.

“We hope all members of the family involved in the operation will be able to attend these sessions together,” Gessner said. “This not only ensures all family members hear the same information, but also generates questions and conversation that benefits all attendees at the conference. It is our hope, that this program spurs transition plan development,” Gessner said.

Program details

• Sioux Falls, Sustaining the Legacy program will be held Feb. 1, 8 and 15 at the SDSU Extension Regional Extension Center (2001 E. 8th Street). Registration is due Jan. 29.

• Pierre, Sustaining the Legacy Program will be held Feb. 13, 20 and 27 at the SDSU Extension Regional Center (412 W. Missouri Ave). Registration deadline is Feb. 7.

Both programs will run each day from 10 a.m. to 4 p.m. Lunch and breaks provided.

Participants are expected to attend all three sessions.

To help cover expenses registration for the event is $100 and includes up to five family members. To register, mail a check for $100 to SDSU Extension, Attn. Heather Gessner, 2001 E. 8th Street, Sioux Falls SD, 57103. Include the names and contact information for all attendees.

For more information, contact Gessner at 605-782-3290 or Heather.Gessner@sdstate.edu.