Planning for the Future of Your Farm Seminars Offered

Mt. Olive College’s Lois G. Britt Agribusiness Center is hosting a series of regional workshops on estate planning, beginning today in Lee County. Sandy Maddox, Director of the Lois G. Britt Agribusiness Center at Mt. Olive College:

“We got funding through USDA RMA to provide information that will help farmers manage risk. One of the risks that they face is how to plan for the future of assets, whether they will be handed to the next generation, engage in a business or planning for retirement. Anyway that farmers can manage risk is a benefit to the ag community.”
 

The Lee County event is the first of several, Maddox explains:

“We are doing three regional events and then additional workshops to address specific issues.”
 

Maddox explains that the workshops focus on planning for the future of a farm or other business:
 

“What we hope to address in each of the regional events is to: one, look at the state of agriculture, what are the trends and issues that could have an impact on transitioning farms and estate planning, like the tobacco buyout over in 2014. We want to make people develop awareness of what we know that we might be able to plan for.”
 

Also, Maddox outlines a couple of other specific topics that will be addressed in the workshops:

“We will also discuss the importance of being enrolled in the present use value program, its requirements and importance. WE will also have a probate clerk of court come in some cases to talk about how they could be the last person a family ever sees if a person is passed, and if plans are not made there can be some disastrous consequences.”
 

To learn more about the Planning the Future of Your Farm Workshops, visit our calendar. The next workshop will be February 20 at Robeson County Cooperative Extension, then Mt. Olive College will host the final scheduled event on March 7.


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