Meeting
Time:
Farm & Ranch Succession Series: Workshop on Estate and Transition Planning, and use of the Limited
Date:
9:00 am
Gering Civic Center
1050 M Street
Gering NE 69341
Gering NE 69341
Directions: 1050 M Street, Gering
Contact:
Rural Response Hotline, +1 (800) 464-0258
To register (and for questions) call the Rural Response Hotline at 1-800-464-0258
Estate Planning: This part of the workshop offers a discussion of business, family and tax issues involved in passing on the family farm or ranch, and legal tools that are used to address those issues. Topics discussed include: determining goals, family dynamics and expectations in a business setting, financial viability, the transfer process; estate and gift tax, inheritance tax, efficient methods of transfer, probate, wills, trusts, titling, long term care, powers of attorney.
Limited Liability Company: What is it? How is it formed? How it is used? This discussion will include information on LLC operating agreements; on using the LLC to keep the family farm or ranch going between generations; on using the LLC to protect assets from creditors and family circumstances; on using the LLC to separate ownership and control of assets; and on the use of the LLC in estate and gift tax planning.
Estate Planning: This part of the workshop offers a discussion of business, family and tax issues involved in passing on the family farm or ranch, and legal tools that are used to address those issues. Topics discussed include: determining goals, family dynamics and expectations in a business setting, financial viability, the transfer process; estate and gift tax, inheritance tax, efficient methods of transfer, probate, wills, trusts, titling, long term care, powers of attorney.
Limited Liability Company: What is it? How is it formed? How it is used? This discussion will include information on LLC operating agreements; on using the LLC to keep the family farm or ranch going between generations; on using the LLC to protect assets from creditors and family circumstances; on using the LLC to separate ownership and control of assets; and on the use of the LLC in estate and gift tax planning.
Additional Public Info:
This workshop is made possible by the Nebraska Network for Beginning Farmers & Ranchers, the Farm and Ranch Project of Legal Aid of Nebraska, the Risk Management Agency of the USDA, National Institute of Food and Agriculture, the Nebraska Department of Agriculture’s Farm Mediation, Panhandle Research and Extension Center, and lunch sponsor Platte Valley Bank
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