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The original item was published from 9/21/2016 2:02:10 PM to 11/16/2016 12:05:02 AM.

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Campbell County News

Posted on: September 21, 2016

[ARCHIVED] Campbell County Cooperative Extension to Offer Workshop on Farm Transition and Estate Planning

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The Campbell County office of the Virginia Cooperative Extension will hold a Farm Transition and Estate Planning Workshop on Tuesday, Nov. 15, 10 a.m. – 4 p.m. at the Cooperative Extension Office at 163 Kabler Lane, Rustburg.

There is a $10 fee per person, which will help cover program expenses. Lunch is included in this partially grant-funded program. Registration must be received by Tuesday, Nov. 1.

Families with questions about taxes and legal and family issues of transferring their farms, estates, and agricultural businesses are encouraged to attend the one-day workshop.

The workshop will help families plan for the successful transfer of their estates: farm and forest lands and businesses. Some of the topics that will be included in this program are:

*Goals for the future of your farm: handling the tough issues of family communication
*Business profitability: maximizing income to assist in farm transfer
*Medicaid, long-term care, and guardianship issues
*Retirement planning: developing a stable income stream in your later years
*Estate planning: Approaching tough questions about fairly dividing your estate
*Tax management issues: minimizing taxes in business and wealth transfer
*Business organizations: utilizing business entities to manage and transfer assets

The speaker panel will include attorneys and extension agents with expertise in ownership succession issues, the use of limited liability companies (LLCs), and other techniques used to transfer wealth and tax management issues.

For more information and for registration instructions, contact Todd Scott at the Campbell Extension Office at 434-332-9538 or at todds08@vt.edu.

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