The Riverland Community College Farm Business Management program and the University of Minnesota Extension collaborate to present the workshop “Farm Transition & Estate Planning: Create Your Farm Legacy” Feb. 28 at Riverland’s Austin Campus’ West Building, room A237.

This full-day workshop stresses practical information and strategies to help farm families begin the process of transferring the farm business to the next generation.

Specifically, “Farm Transition & Estate Planning: Create Your Farm Legacy” provides participants a greater understanding of transfer strategies, tax issues related to the transfer process, discusses methods for treatment of heirs in the transfer process, as well as how to develop a written transfer plan. As part of the workshop, participants will complete worksheets related to the application of different transfer strategies and create lists of personal, family, and farm business goals. This written information becomes the basis of the transfer plan.

Estate planning is a crucial part of the transition process. A discussion of subjects like wills and trusts, life insurance, power-of-attorney, long-term health care issues and more will give participants the information necessary to complete the transfer plan.

The workshop is $30 per family if enrolled in Riverland’s FBM program. Other families or businesses pay $60. Space is limited. Registration begins at 9 a.m. The workshop is from 9:30 a.m. to 3:30 p.m. Lunch will be available to purchase at the college. To pre-register for the workshop or for more information contact: Dan Hoffman at 507-421-7167, Gary Thome at 507-438-2019, Dave Marr at 507-438-7076 or Barry Kurtz at 507-438-2126.

The Riverland Farm Business Management program is designed to help organize a farmer’s resources to assist in meeting family and financial goals. Courses explore various topics including: economic principles, farm practices, agricultural science, new developments in the field and decision making skills. Instructors primarily work with clients/students one on one.