Registration is now open for Indiana Agricultural Law Foundation’s 2018 Estate and Succession Planning for the Family Farm event in Indianapolis. Family farmers and attorneys are encouraged to attend on Tuesday, July 17 from 9 a.m. to 4 p.m. at the Indiana Farm Bureau headquarters to learn about estate and succession planning as it pertains to the long-term future of family farms.
The Indiana Agricultural Law Foundation (INAgLaw) is a 501(c)(3) charitable organization with a focus on developing educational and legal initiatives that support the advancement of Indiana agriculture. INAgLaw’s event is open to anyone interested in understanding the importance of estate and succession planning to their business and walking away with valuable tips for getting started.
“Farming is a family business, and like any other family business, succession planning is essential,” said John Shoup, director of INAgLaw. “Most farmers know that transitioning the farm is something they need to plan and prepare for, but they might not know where to begin. Our event in July is intended to make the planning process a bit more manageable for farmers and their legal representatives.”
The event is designed to make it easier for farmers and attorneys alike to create estate and succession plans that meet the unique needs of family farmers. Speakers will cover general estate planning considerations, how to protect your digital assets, elder care planning as it relates to the family farm and the importance of communication during such transitions.
“There are some aspects of estate planning for farming that are different than for most other kinds of businesses,” explained Shoup. “It’s important that farmers and attorneys alike understand those differences to create the most seamless plan for a family.”
INFB member, Jim Wenning of Wenning’s Farms in Henry County, attended the event in 2016 with his wife to gather information before starting their own estate plan for their family farm. The Wennings are now in the process of planning for the disbursement of their estate.
“When we attended the event, we were just beginning to look at the process and we wanted to get some thoughts on how to get our estate plan started,” said Wenning. “We definitely took away some good pointers from the event. As landowners and farmers, it’s important that we have a say in how our estate is disbursed.”
The event’s sessions include:
• General Estate Planning Considerations – Simpson Thompson & Colin, LLC
• A Digital Afterlife? Estate Planning for Your Digital Assets – Harrison & Moberly, LLP
• Elder Care Planning – Don’t Lose the Farm to the Nursing Home – Gordon & Associates
• Estate and Succession Planning from a CPA’s Perspective – K•COE ISOM
• Transition Tools and Tough Talks – Oklahoma State University
Registration ends July 10 unless maximum capacity is reached in advance of that date. You can register today at www.INAgLaw.org. Registration is $35 per person and $60 for all attorneys seeking CLE credits (six credit hours).