Succession Planning for California’s Farms and
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.
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.
Labels: Anderson Valley Land Trust workshop, California FarmLink, Legacy Workshop for Farms and Ranches, Succession planning for California's farms and ranches