Event Details
Date
September 24 - September 25, 2013
Location
NYS Fairgrounds
Broadway Bistro Room
Syracuse, NY
Cost
$100.00
Includes meals and educational material.
Host
NY FarmNet
800-547-3276
https://www.facebook.com/nyfarmnet
Pre-Registration Deadline: September 12, 2013
New Strategies for Farm Succession Planning
September 24 - September 25, 2013This isn't your grandpa's farm transfer.
Farm succession now requires legal, tax, and business strategy.
Industry professionals and farmers will offer tips for transferring farm ownership to the next generation at a conference, "New Strategies for Farm Succession Planning," slated for September 24-25 at the New York State Fairgrounds in Syracuse.
"Over the years, the farm transfer process has become increasingly complex. At the same time, farmland values continue to appreciate. These factors make it necessary for farmers to have in place innovative strategies to ensure a successful transition in ownership and keep the farm in agriculture," said Ed Staehr, executive director of NY FarmNet and a senior extension associate with the Dyson School at Cornell University.
The conference provides farm families and their advisors information on developing effective farm business succession plans.
Professionals from Farm Credit, Farm Family Insurance, and a leading law firm in succession planning will describe how to develop a plan that works for your farm business, including funding, tax, legal, and insurance strategies.
A multigenerational panel of farmers will share how they implemented succession plans for their farm business.
A significant number of farms now exceed Federal gift and estate tax exemptions. As a result, some farm owners are reluctant to develop a strategy for the next generation to continue farming. In many cases, profitability is not a limiting factor in farm business transferability. Family communication issues between generations are a frequent impediment to successful farm business transfers.
Farm Succession Planning (PDF; 1301KB)
