Fall colors

If you want more of the traditional fall colors of orange and red to appear on your farm landscape when autumn arrives, plant trees from the hickory, birch, maple and oak families.

SDSU Extension will host several Sustaining the Legacy virtual conferences focusing on transitioning farms and ranches to the next generation on Dec. 2, 9 and 16 from 6:30 p.m. to 9:30 p.m. CST each evening.

The conference will provide tips and tools to participants to ensure the transition accomplishes the goals of their operations.

“Approximately a third of South Dakota’s agricultural land is owned by someone 65 or older,” said Heather Gessner, SDSU Extension livestock business management field specialist. “This ground will transfer to the next generation farmer or rancher in the next 10 years or so. Developing a plan that accomplishes the goals of the family and the operation will ensure a continuation of agricultural production, family values and traditions, and main street businesses and schools.”

The conference is designed for those with farming and ranching heirs returning to the operation. Participants will learn about methods to pass on farm and ranch assets and business, as well as methods to provide financial inheritance to non-farming and ranching children.

Specific topics include:

Trusts

Business structures, LLC’s and Corporations

Life Insurance

Wills and probate

Titling property

Contracts

Retirement planning for landowners

Estate planning and farm transition attorneys, in addition to other industry experts, will present the material. Participants will also be given the opportunity to sign up for further estate planning assistance from a certified farm and ranch transition coordinator.

“Face-to-face meetings are not feasible or advisable in today’s COVID-19 climate, so we will utilize a virtual platform to provide information, educate, and assist South Dakota’s producers the best way we can,” Gessner said.

Those interested can register at https://extension.sdstate.edu/event/sustaining-legacy-virtual-conference. A link to join the conference will be provided to participants upon registration.

For questions and additional information, contact Heather Gessner, SDSU Extension livestock business management field specialist, at heather.gessner@sdstate.edu or 605-782-3290.