Purdue News

February 21, 2005

Seminars offer help with property and farm business transfer

WEST LAFAYETTE, Ind. - Seminars designed to help farmers, farmland owners and family businesses make plans for the transfer of their property and business interests will take place in March at Purdue University Cooperative Extension Service offices in Greene, Bartholomew and Marshall counties.

The Farm Estate and Business Transfer Planning Seminars will explain estate and business transfer planning tools and show how to minimize income and transfer taxes, said Gerald Harrison, Purdue agricultural economist and seminar facilitator.

During the seminars, Harrison and others will discuss farming together and business transfer issues. Harrison will discuss health-care directives; avoiding probate; wills and the consequences of not having a will; income, gift and estate taxes; business organization choices; and living trusts.

"These are unique seminars in the respect that they will benefit each individual in a different way," Harrison said. "Besides helping farmers with family transfer issues, there will be an emphasis on helping retired farmland owners and active farmers understand opportunities for tax minimization - how to completely avoid federal estate taxes and in some cases use charitable transfers, including conservation easements."

Robert Taylor, Purdue agriculture economist, also will speak during the Greene County seminar. Alan Miller, a Purdue farm business specialist, will speak at the Bartholomew County session. Each will discuss issues related to farm families working together.

Continuing education credits are available for accountants, insurance agents and Indiana lawyers.

The seminar schedules are:

• March 1. 8:45 a.m. to 3 p.m. - Purdue Extension Greene County office, Bloomfield, Ind. Registration fees for the seminar are $15 for individuals, $5 for a registrant's spouse, and $40 for Indiana lawyers, accountants and insurance professionals seeking continuing education credit. Fee includes a sponsored lunch and continental breakfast.

• March 10. 8:45 a.m. to 3 p.m. - Purdue Extension Bartholomew County office, Columbus, Ind. Fees are $25 for individuals, $15 for registrant's spouse and $50 for professionals.

• March 29 and 31. 6:45-9:30 p.m. - Purdue Extension Marshall County office, Plymouth, Ind. Fees are $20 for individuals, $10 for registrant's spouse and $45 for professionals.

Preregistration is required by Feb. 28 for the Greene County seminar, March 7 for the Bartholomew County seminar and March 28 for the Marshall County seminar.

Registration forms are available through Purdue Extension offices in Green County at (812) 659-2122, Bartholomew County at (812) 379-1665 and Marshall County at (574) 935-8545; or by contacting Harrison toll-free at (888) 398-4636, ext. 44216, or (765) 494-4216, or via e-mail at harrisog@purdue.edu.

Writer: Julie Douglas, (765) 494-8402, agnews-stories@purdue.edu

Source: Gerald Harrison, (765) 494-4216, harrisog@purdue.edu

Ag Communications: (765) 494-2722;
Beth Forbes, forbes@purdue.edu
Agriculture News Page


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