Statewide Farm Succession and Estate Planning Conference
Are you worried about passing your farm on to the next generation? Are you trying to figure out what the possible tax law changes will mean to you? Do you need a refresher on all of the steps to complete for your estate plan?
Farmers throughout Michigan are invited to attend the Take Root Farm Succession Planning Conference. The conference is being co-hosted by Michigan Soybean Committee, Michigan Milk Producers Association, Michigan Corn Growers Association, Greenstone Farm Credit Services, Michigan Farm Bureau, Michigan Pork Producers, Farm Bureau Life Insurance, MACMA Apple, Michigan Wheat, Michigan Cattlemen’s Association, Michigan Blueberry Commission, Michigan Agri-Business Association, and the Michigan Nursery and Landscape Association.
The full-day conference will include presenters from Foster Swift Law Firm, Varnum Law Firm, Fraleigh Law, several accounting firms, and others. The headline presenter will be Jolene Brown, a farm succession planning consultant from Iowa who has done a fantastic job for our farmers in the past, providing practical guidance on how to lead a farming operation through this process.
KEYNOTE SPEAKER
Jolene Brown, CSP, CPAE
Jolene Brown is a walking, talking spokesperson and champion for the people of agriculture. She’s a farmer in eastern Iowa, contributor to Successful Farming magazine’s popular family business column, author and member of the CPAE Speaker Hall of Fame. Audiences worldwide appreciate her fun spirit and valuable information. She’s on a mission to share leading-edge best practices, appreciation, laughter and celebration to increase productivity, profitability and peace of mind.
BREAKOUT SESSIONS
Michael C. Zahrt, Foster Swift; Thomas A. Doyle, Doyle Law PC
- Maximize and preserve wealth during lifetime
- Transfer wealth at death to intended recipients
- Minimize estate administration expenses
- Reduce or defer taxes
- Property Ownership
- Avoid conflict among family members.
Dean Reisner, Varnum; Michael Fraleigh, Fraleigh Law
- Farm Transfer Factors & Strategies
- Distribution Issues with Farming and Non-Farming Beneficiaries
- Buy/Sell Agreements
- Choosing the Best Business Structure
- Building a Management Team
- Communication
Kristiana Coutu, Varnum; Jeff Bushey, CPA, Nietzke & Faupel, PC
- Review of current estate tax system
- Structures for farm transitions
- Using estate tax rules to create tax benefits
- Structures to reduce and or eliminate estate taxes
- Common Pitfalls to avoid in Estate and Succession Planning
Trent C. Hilding, Law Firm of Trent C. Hilding, PLC
Do you need an LLC to help protect your business or assets? Let’s go through the use and benefits of LLC formation and what’s needed to form, file and create one. We’ll discuss what to consider in operating a new LLC and help you get the maximum benefit from establishing your new business.
Todd W. Hoppe, Foster Swift
You have multiple operations, generations of family members and numerous employees… You have farm managers... You have grain elevators, livestock, trucking, real estate and cropping — all run independently... You do contract work for other farms and agribusinesses... What structure should you be moving to? Should you do it all at once or in stages? What are other companies doing and where do you start?
Trent Rappuhn, Frank Campione and Jim Dempsey, Farm Bureau Insurance of Michigan
- Life insurance for maximizing and preserving farm succession and wealth
- Income tax-free liquidity to transfer farm and assets to the next generation
- Use insurance to equalize estate when some family receive the farm and others aren’t involved
- Tax efficiency during life and after death, related to pending proposals impacting farms, businesses, high-income, high-net-worth taxpayers — and those facing large capital-gain transfers
- Coordinate insurance with overall estate plan
Chad Zagar and Mitchell Schafer, GreenStone Farm Credit Services; Daniel S. Hoops, CEPA, PNC Private Bank
A successful transition preserves your legacy and benefits your family financially. Learn through real experiences as GreenStone staff lead a conversation on managing farm transitions.
Topics will include understanding your financials, tax implications, asset valuation, transitioning roles within the family, and what experts should be involved.
Sylvia Bittner, Farm Bureau Health Services
Planning to retire? Turning 65? Medicare can be confusing. It’s easy to miss important information and make bad choices that can cost thousands down the road.
Learn the ABC’s — and D! — of Medicare from our on-staff expert. It’s strictly educational: No products will be sold!
Thank You To Our Sponsors
2022 Growing Together
Interested in improving your communication skills, promoting Michigan agriculture or furthering your farm business with the latest technology? The 2022 Growing Together Conference, a statewide leadership development event, takes place after the Take Root Conference from February 18-20 at the Amway Grand Hotel. To learn more about the available tours, evening entertainment and keynote speaker, visit the Growing Together event page!
