Farm and Ranch Estate Planning Workshops set in January in High Plains

Writer: Kay Ledbetter, 806-677-5608, skledbetter@ag.tamu.edu
Contact: DeDe Jones, 806- 677-5667, DLJones@ag.tamu.edu

AMARILLO – Seven Farm and Ranch Estate Planning Workshops are scheduled during January in the Panhandle featuring Dr. Wayne Hayenga, professor emeritus and Texas A&M AgriLife Extension Service specialist from College Station.

These seminars will provide participants with information on tax and estate planning matters to assist in making difficult decisions, said DeDe Jones, AgriLife Extension risk management specialist in Amarillo.

Hayenga is an agricultural economist and attorney who works with farmers, ranchers and family owned firms in financial, business and estate tax planning, Jones said. He will give a thorough analysis of relevant income and estate tax rules as they affect families and agricultural businesses.

“These seminars are helpful to married couples in that they discuss estate administration and tax reporting requirements for the surviving spouse,” Jones said. “They are also useful for potential executors and trustees and helpful to all who want to make their estate settlements less burdensome to their loved ones.”

No pre-registration is required. The following is a schedule of times, dates and locations:

- 6-8 p.m., Jan. 20, O’Laughlin Center, 502 S. Brandt St., Spearman.

- Noon-2 p.m., Jan. 21, Carson County War Memorial, 500 Main St., Panhandle.

-  6-8 p.m., Jan. 21, AgriLife Extension office for Randall County, 200 Brown Road, Canyon.

- 1-3 p.m., Jan. 22, AgriLife Extension office for Deaf Smith County, 903 14th St., Hereford.

- 6-8 p.m., Jan. 22, Moore County Community Building, 1600 Maddox St., Dumas.

- 12:30-2:30 p.m., Jan. 23, Texas A&M AgriLife Research and Extension Center, 6500 W. Amarillo. Blvd., Amarillo.

- 6-8 p.m., Jan. 23, Donley County Activity Center, 4430 State Highway 70, Clarendon.

Topics will include:

- The Will: What all is needed?: Selection of executor, paying debts and taxes, “Share and share alike?,” and “Do I need a trust?”

- A living trust: Managing property to take “care of,” not “give to” people. Avoiding guardianships and many other benefits.

- Passing on an active farm or ranch: Tips for keeping the business going.

- Power of attorney: What if they don’t work? Health care power of attorney. Living wills.

- Taxes: Estate tax, generation-skipping tax, gift tax, income tax and Social Security tax.

- Property in different states – avoid probate.

- How Not to Let My Kid’s “Ex” Mess With Me.

For more information, contact Jones at 806-677-5667 or 806-681-5145, or by email at DLJones@ag.tamu.edu .

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