Estate Planning and Business Succession for Farmers 101

Agenda / Content Covered

1:00 — 2:30, Ann O'Hara

1. Goal Setting: Questions to Ask Clients
2. Agricultural Business Ownership: Sole Proprietor vs. Partnership vs. LP vs. Corp vs. LLC
3. Evaluating Assets and Agricultural Use Valuation
4. Tax Considerations: Estate Tax, Farmland Gifting, Capital Gains, Recapture Taxes, Tax Breaks
5. Outright Sales, Installment Sales, Liquidations
6. Gifting the Farm Assets and Business to Family Members
7. Splitting the Farm: Evenly, Unevenly, and Solutions to Inequities
8. Leveraging Life Insurance for Farm Succession
9. Farm Trusts
10. Dividing the Farmland Within an LLC or Other Business Entity
11. Leasing to a Family Member or Third Party

Accreditation Details:

Ann M O'Hara is an attorney with Dale & Eke, P.C., in Indianapolis. She currently practices in the areas of employee benefits, estate planning and probate, and trust administration. Ms. O'Hara served as an adjunct professor in individual federal taxation at the Kelley School of Business, Indiana University, and has lectured on federal estate and gift taxes issues. While completing her law degree, Ms. O'Hara was a tax analyst for the Indiana Inheritance Tax Division of the Indiana Department of Revenue, and also served as director of the Corporations Division of the Indiana Secretary of State's Office. She earned her B.S. degree in finance, summa cum laude, from St. Joseph's College and her J.D. degree from Indiana University Robert H. McKinney School of Law.