Bringing Farmland Conservation-Based Estate Planning to Agricultural Professionals

Project Overview

ENC02-064
Project Type: Professional Development Program
Funds awarded in 2002: $83,314.00
Projected End Date: 12/31/2005
Region: North Central
State: Minnesota
Project Coordinator:
Julia Freedgood
American Farmland Trust

Annual Reports

Commodities

Not commodity specific

Practices

  • Education and Training: extension, farmer to farmer, workshop
  • Farm Business Management: agricultural finance
  • Sustainable Communities: analysis of personal/family life, quality of life

    Abstract:

    Several significant causes of farmland loss are aging farmers with no heirs to take over operations, young farmers who cannot afford to purchase a farm, and farmers who do not have the information needed to make informed decisions regarding land protection options. Agricultural professionals often do not have the necessary information and training to assist landowners. To address this problem, American Farmland Trust (AFT) convened a group of key agricultural, conservation and financial professionals to train them in conservation-based estate planning so that they could more effectively advise their clients, particularly agricultural professionals, farmers and landowners.

    Project objectives:

    1. Educate agricultural professionals on current, conservation-based retirement, farm transfer and estate planning concepts;
    2. Educate agricultural and conservation professionals on how to profile farmland owners who might benefit from these options;
    3. Educate conservation, legal and financial advisors on how to effectively convey conservation-based estate planning and farm transfer information to farmland owners and professional colleagues;
    4. Evaluate this project as a model for implementation nationwide.

    Any opinions, findings, conclusions, or recommendations expressed in this publication are those of the author(s) and do not necessarily reflect the view of the U.S. Department of Agriculture or SARE.