Liz's presentation focused on farm transfers. She spoke about how to prepare and plan for a farm transition to the next generation, how to structure a transition plan and provided some basic information on estate and gift tax rules.Mike spoke about financing strategies for inter-generational farm transfers and advised the group on the importance of good records and having open communication with their loan officer to share and meet their business goals.
About 50 farmers were in attendance. The group had excellent questions and lots of positive energy for stepping up their involvement in their operations.
