Planning The Future of Your Farm: A Workbook Supporting Farm Transfer Decisions.
ID
446-610
Table of Contents
Complete PDF file of this document is available in the top right column
Acknowledgements
About the Virginia Edition
How to Use This Workbook
Section One: Developing a Vision for the Future
- Farm Transfer Planning: A Suggested Definition
- Farm Transfer Planning: How to Begin
- Starting with What You Want.
- Managing Risks with Farm Business Transfer: The 5 D’s
- Worksheet 1.1: Quick Risk Assessment: The 5 D’s
- Improving Farm Family Communication
- When Family Business Transition Makes No Sense
- Developing Goals and Meeting Objectives
- Worksheet 1.2: Planning the Family Meeting
- Worksheet 1.3: Rating Family Values
- Worksheet 1.4: Rating Your Comfort Level
- Worksheet 1.5: Sketching Your Lifestyle Plan
- Worksheet 1.6: Estimating Income and Expenses
- Worksheet 1.7: Setting Goals and Objectives
- Worksheet 1.8: Reconciling Priorities
- Worksheet 1.9: Turning Goals and Objectives into Action
Section Two: Evaluating Your Farm Resources
- Evaluating Your Farm and Community Resources.
- How Do You Own Your Property?
- Worksheet 2.1: Evaluating Farm Resources
Section Three: Farm Transfer Tools
- The Tools of Farm Transfer
- Basic Estate Planning Documents: Wills, Trusts, and Gifting
- About the Federal Estate Tax: A 2011 Update
- Entity Choice for Agricultural, Forestry, or Horticultural Ventures
- What is a Buy-Sell Agreement?
- Table 3.1 Quick Comparison of Business Entities
- Worksheet 3.1 Checklist for Business Agreements
- Developing A Lease for the Farm
- Worksheet 3.2: Short-Term Lease Checklist
- Worksheet 3.3: Estimating Costs and Estimating Rent
- Worksheet 3.4: Repairs and Maintenance Checklist
- About Conservation Easements
Section Four: Meeting with Professional Advisers
- About Your Team of Professional Advisers
- Gathering Information About Your Estate
- Worksheet 4.1: Locate Important Documents
- Worksheet 4.2: Wills and Trusts Basics
- Worksheet 4.3: Gathering Information About Your Estate
Glossary
Rights
Virginia Cooperative Extension materials are available for public use, re-print, or citation without further permission, provided the use includes credit to the author and to Virginia Cooperative Extension, Virginia Tech, and Virginia State University.
Publisher
Issued in furtherance of Cooperative Extension work, Virginia Polytechnic Institute and State University, Virginia State University, and the U.S. Department of Agriculture cooperating. Alan L. Grant, Dean, College of Agriculture and Life Sciences; Edwin J. Jones, Director, Virginia Cooperative Extension, Virginia Tech, Blacksburg; Jewel E. Hairston, Administrator,1890 Extension Program, Virginia State, Petersburg.
Date
September 15, 2011