Estate and transition planning will be the focus of an Annie’s Project Retreat to be offered Nov. 3-4 by Nebraska Extension, at the Panhandle Research and Extension Center in Scottsbluff.
Women play a key role not only in operating agricultural businesses, but also in transitioning the business between generations, according to retreat coordinator Jessica Groskopf, Extension Educator – Ag Economics. The goal of this women’s retreat is for participants to come out with action steps to make a transition strategy for their farm or ranch including succession, business, estate and retirement plans.
The program will help people think about how to transfer their assets, whether it be to other members of the family, a non-family beginning farmer/rancher, or to a charitable organization, according to Groskopf. “They need to ask themselves what their goals are,” she said. “This poses a challenge for a lot of families deciding the future of their farm or ranch.”
Course size is limited to 20 participants. Pre-registration is due by Oct. 27, but if room is available registrations may be taken after that date. The cost is $75 per person. Registration scholarships are available.
To register, come to the Scotts Bluff County Extension office, or contact Jessica Groskopf at 308-632-1247, jgroskopf2@unl.edu.
The retreat begins Friday, Nov. 3, at 9 a.m. and concludes Saturday, Nov. 4, at 4 p.m. Participants receive handouts and meals.
Sessions include brief presentations, discussions focused on the participants’ questions. Attendees will hear from multiple retirement and estate planning experts including a lawyer, Pam Olsen, financial advisor, Brandy Reichert, and an insurance professional, Brandon Dirkschneider, who all specialize in working with farm and ranch families.
“You’re never too young or too old to do this type of planning,” Groskopf said, “We encourage siblings or multiple generations to come together, and think about the legacy of their land. This is a topic that should be reviewed at every major life event in the family: births, weddings, divorces, disability and deaths – to make sure the goals of their operation can still be met.”