Succession Planning for California’s Farms and Ranches
Anderson Valley Land Trust is hosting a workshop on succession planning for farm and ranch families on Friday, November 22, 2013 from 8:30 a.m. – 4:00 p.m. at the Anderson Valley Grange in Philo in Mendocino County.
Succession planning is the process of mapping the transition of the family farm or ranch business, land, and assets from one generation to the next, and a simple will or estate plan cannot fully cover the intricacies of the transition.
According to California FarmLink, 70% of U.S. farmland is going to change hands in the next 20 years; 70% of farmers have no will and 75% of farmers will have no named successor. In California for every farmer under age 35 there are 9 California farmers over age 65, thus underscoring the importance of estate and succession planning to keep farm and ranch lands in production and to preserve the agricultural heritage of communities like Anderson Valley.
Regional experts and workshops will provide key information and tools on such topics as: successful business transfers; how to decide who will run the farm or ranch in 5, 10, 20 or more years; how to develop the next generation’s management capacity while protecting the current generation’s interests; tools to keep harmony in the family through this difficult process; estate planning; and avoiding unnecessary transfer taxes (income, gift and estate).
All generations are encouraged to attend. Lunch, workshop materials, and one copy of California FarmLink’s Farm Succession Guidebook per family are included in the workshop cost of $25 each for the first two family members and $15 for each additional member. Workshop participants will be eligible for a low-cost, private consultation with an attorney and/or CPA at a future date.
Pre-registration is required by November 18th. Call Shelly at 707-895-3150 or send an email with names of all family members who will attend and one contact phone number or email address to info@andersonvalleylandtrust.org. More information is available at www.andersonvalleylandtrust.org.
This workshop, presented by California FarmLink, is part of the Anderson Valley Land Trust’s Legacy of Working Lands. The project is funded, in part, by a grant from the Community Foundation of Mendocino County with additional support from the Savings Bank of Mendocino County, East Bay Community Foundation, Navarro River Resource Center, California Rangeland Trust, Anderson Valley Grange, and Mendocino Land Trust.
