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Passing It On: An Estate Planning Resource for Farmers and Ranchers

Cole Ehmke

Summary

The importance of a transition plan for the management and ownership of an ag operation is well known. However, many agriculturists have trouble starting the conversation with family, sorting through the numerous materials available, collecting the appropriate information and eventually coming to agreement on a plan that meets the goals of stakeholders. Developed in 2006, Wyoming’s Passing It On resource emphasizes the interpersonal aspect of transition planning as well as provides expert-authored concise articles on estate planning tools in an easy-to-use binder. Initial reception in the state has been very good, and requests for the materials have come from other states in the West, as well as across the country. The materials are a result of a partnership between the Wyoming Department of Agriculture’s Mediation Program, the University of Wyoming’s Department of Agricultural Economics and estate planning authorities in the West. An initial challenge was partnering with professional groups, but through personal contacts, individuals become involved. Now unsolicited content is proposed.

Details

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