2016 Transferring the Farm/Forest Product Business Workshop

Multi-generational farm family walking with goatsFebruary 4, 2016
9:00 AM – 3:30 PM
Augusta, Maine

An estate planning workshop to help farm and forest product families minimize business succession risk by addressing estate planning, business structures, and developing plans to move your farm to the next generation. This day-long workshop will help farmers and farm families make informed decisions about intergenerational transfer of farmland and farm businesses.

The workshop will address details on transition planning, retirement and estate planning, legal approaches to protect assets from taxes, tools you can use to transfer farm assets, and determining your goals to address transfer planning and business transition.

Cost: $15
Location: Maine Forest Products Council, Augusta Maine (conference room, lower level – enter directly from parking lot)

Registration Closed

Speakers

  • Mike Sciabarrasi, University of New Hampshire, Extension Professor and State Specialist, Agricultural Business Management, has spent his career working with New Hampshire farm families and their farm financial management decisions.
  • Attorney Paul Dillon is an experienced ag attorney working with wills, trusts, business agreements, estate planning, probate, charitable giving, and healthcare issues.
  • Gary Anderson, Animal and Bio-Science Specialist, will lead the family discussion and goal setting section of the program.

Program Schedule

  • Registration begins at 8:45 AM
  • Welcome at 9:00 AM
  • Starting the Farm/Forest Products Business Transition Process: As in many cases, the first step involves family communication and setting goals.
  • Transition, Money, &  Estate Planning – Useful tools: We will focus on issues related to estate planning, retirement, wills, taxes, and how assets can be distributed to the next generation. We will also cover business structure and key ingredients of a business agreement so to protect against the 4 Ds.
  • The Legal Aspect: We will be joined by Attorney Paul Dillon, who will address selecting a business entity, wills, trusts, probate, and other important legal documents.
  • Healthcare: We will examine the challenges of healthcare, Medicaid, and how these programs work in a farm and farm business transition setting.
  • Q&A and Wrap-Up: We’ll have time at the end of the day to answer additional questions you may have.
  • Adjourn by 3:30 PM

Directions


For more information, contact Gary Anderson at garya@maine.edu or 207.581.3240 or 800.287.0274 (Maine only).

If you are a person with a disability and need an accommodation to participate in this program, please call  Melissa Libby at 207.581.2788 to discuss your needs. Receiving requests for accommodations at least 10 days before the program provides a reasonable amount of time to meet the request, however all requests will be considered.

Extension Risk Managment Education Northeast Center  USDA: United States Department of Agriculture, National Institute of Food and Agriculture