Farm Estate Planning Help
Getting the right information and preparing long before you plan to sell or transfer your operation to a family member is key.
There are a number of ways to get started.
Guidestone Colorado offers online information and live seminars. Recently, Todd Hagenbuch, the Ag/Natural Resources Agent and County Director for CSU Extension in Routt County, went online to speak about estate transfer and succession planning.
The fourth generation of his family to ranch in Routt County, Todd can speak about his first-hand challenges surrounding succession issues.
Danielle Trotta, Business Development Specialist at the Colorado Department of Agriculture says one of the primary purposes of the CDA is to support the next generation of farmers and ranchers.
Trotta: “And they talk about the programs they have through CDA and through the extension office that will help families and farmers get their process started to complete a family estate or secession plan so that they can preserve their land and legacy. It’s a very important thing because if you don’t take care of it, the state will take care of it for you and it’s not usually the way you want it to go. We found that it’s really important to put the information out there, so folks are aware. That’s one of our wildly important goals for the commissioner is to preserve the next generation of farmers and ranchers. And this is the way farmers and families need to be doing it so they can continue on farming and ranching.”
The CDA has a podcast on the subject of family estate and succession planning. You can find a link to the Cultivation Station podcast on the CDA website.
Whether you’re a fourth-generation farmer or rancher, or new to farming, the information is important to keep your land and operation in your family, if that’s your goal.