September 28, 2010
Planning the Future of Your Farm
Last Thursday I attended a workshop on "Farm and Estate Transition and Conservation Easements,"sponsored by the Madison-Morgan Conservancy at the Burge Plantation outside Madison, Georgia. The audience was a mix of landowners and lawyers interested in helping farm owners conserve their land and pass their farms onto future generations. This is a very interesting twist on estate planning, and I learned the value of having a qualified lawyer as an adviser on farmland transition. For example, according to Allen H. Olsen, a agriculture law specialist, traditional estate planning can sometimes create governance structures that make the farmer ineligible for farm subsidy programs, thus undermining the farm's ability to survive.
The Rolling Hills Resource Conservation and Development Council has published "Planning the Future of Your Farm: A Workbook Supporting Farm Transfer Decisions." I've only had a chance to scan through the Table of Contents, but the book seems to be chock full of tools for planning family meetings, evaluating farm resources, and drafting farm transfer tools. It looks like a great resource for anyone working with farmers interested in effectively planning for the future.
Jamie Baker Roskie
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