| PROJECT SUMMARY |
03-3-2005
Numerous risks for Montana farm/ranch families who do not have an intergenerational transfer plan. Financial risks include the payment of unnecessary taxes or probate fees, the sale of land because heirs demand their inheritance in dollars, and assets passing to undeserving or distant heirs who have no interest in farming/ranching. Family risks include the breakup of marriages, family arguments and disagreements that carry over to subsequent generations. Many of the 734 older parents who have attended the 2004/2005 RMA/MGGA/Extension sponsored estate planning programs have indicated that their adult children "should" also have this education.
This project will provide estate planning education for the "Next Generation" (100 future heirs ages 20-45) through a statewide workshop, a study-at-home packet, a book-club-type discussion group, an interactive video conference session, and a web site designed to address specific concerns expressed by the "Next Generation." Attorneys who assist couples with written wills and other legal documents for a transfer plan will receive partial fees. |
| TOPICS COVERED |
| Plans and tools to address succession, estate planning, health, and well being |
| Interpersonal, family and business relationships |
