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.
BREAKOUT SESSIONS
Maximize and preserve wealth during lifetime; Transfer wealth at death to intended recipients;
Minimize estate administration expenses; Reduce or defer taxes; Property Ownership;
and Avoid conflict among family members.
Farm Transfer Factors & Strategies; Distribution Issues with Farming and Non-Farming Beneficiaries; Buy/Sell Agreements; Choosing the Best Business Structure; and Building a Management Team; Communication.
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; and Common Pitfalls to avoid in Estate and Succession Planning.
Analyze the decision-making process for determining if you need an LLC to help protect your business or assets. In addition to helping you understand the use and benefits of LLC formation, this presentation will provide you with valuable information needed to form, file, and create an LLC – helping your lenders and insurance agents to easily identify new operations. Discuss and talk through the items that should be considered when operating a new LLC and get the maximum benefit from establishing the new business.
NEED DESCRIPTION
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!
