You are welcome to attend a free workshop on Succession & Estate Planning (morning sessions) and Ag Liens & Loans (afternoon sessions). The workshop will be held in Loup City on March 29, 2018 at the Community Center. Lunch will be provided. The workshop runs from 10:00 am to 2:30 pm. There is no charge for the workshop. To register (and for questions) call the Rural Response Hotline at 1-800-464-0258.
What the workshop is about? Estate & Succession Planning (Hawbaker & Goeller) The workshop is about farm and ranch business succession and estate planning. The workshop should be useful for established farm and ranch owners, for their successors, and for beginners. Topics include: stages of succession planning, contribution & compensation, balancing the interests of on-farm and off-farm heirs, the importance of communication, setting goals, and assessing feasibility; beginning farmer loan and tax credit programs; estate planning issues and tools, including incapacity planning, taxes, co-ownership, direct and indirect ownership; legal tools for balancing the interests of on-farm and off-farm heirs; asset protection; use of entities; and examples of planning.
Liens (Hawbaker) – Nebraska’s statutory agricultural liens, from the producer’s perspective: What are they? How do they work? These are liens that give creditors rights in certain property, such as crops, feed and livestock, to secure payment of obligations for goods or services, such as seed, fertilizer, ag chemicals, petroleum products, veterinary assistance, cattle care, harvest work and machine repair. The discussion will focus on identifying the liens and understanding how they work from the producer’s perspective.
Loans (Goeller) – The presentation will provide producers with an inside look at “What your lender is looking for.” The impact of Collateral, Cash Flow, Credit Score, Character and Trends on loan applications. A brief overview of Balance Sheets, Trend Sheets and Ratio Analysis will also be included.
Joe Hawbaker, Agricultural Law attorney, with Hawbaker Law Office, Omaha
Dave Goeller, Agricultural Finance and Transition Specialist
This workshop is made possible by the North Central Risk Management Education, Nebraska Network for Beginning Farmers & Ranchers, the Farm and Ranch Project of Legal Aid of Nebraska, , National Institute of Food and Agriculture, Nebraska Department of Agriculture’s Next Gen, Nebraska Farmers Union Foundation, and Nebraska Extension in Central IV.