Ag Legacy Planning DRAFT

Overview

This evening workshop will be held on March 27, 2024 from 5-8 pm to prepare farms, ranches, and agri-businesses, big or small, for the transition to the next generation. The session will cover legal aspects, financial topics, political factors, family dynamics, and provide real life scenarios to consider incorporating into succession plans.

This symposium is geared for those who need to kick start their estate plan, those with plans under development or those looking to refine their plan!

If you are interested in a future session please email UCCE Livestock and Natural Resources Advisor in [counties] Andrea Northup-Warner at alnwarner@ucanr.edu or UCCE Orchards Advisor in Sutter-Yuba, Butte, Placer counties Clarissa Reyes at clareyes@ucanr.edu.

Featured presentations

 

Building Your Plan: Navigating Options, Legal Requirements & Minimizing Taxes
Amanda Pedrett, Chico State Alumni, Partner at Hyatt McIntire & Associates

An estate plan is not one-size-fits-all. Farmers and ranchers face unique challenges in this area. Our firm serves farmers, ranchers, and businesses to develop customized estate plans and navigate the legal processes. During this presentation Amanda will share case studies with options for participants to consider as they embark on establishing or revising their plans. “Our goal at Hyatt McIntire & Associates is to help people control their lives and assets through thoughtful and customized legal documents,” states Amanda. “I use my background in agriculture, my passion for protecting and improving the lives of local farmers and ranchers, and my legal knowledge to craft customized plans that will give my clients peace of mind that they have reduced uncertainty and legal expenses for family members at a later date.”

Prop 19 impacts on “Family Farms”

Tools for Estate Planning: Communication and Conservation
Tim Koopmann, Rancher Alameda County

In the middle of California’s Bay Area, Tim Koopmann’s 850-acre family ranch is nestled between a golf course named after an endangered species, commuter-packed Interstate Highway 680 and ranchettes on what used to be working rangelands. Tim will share about the challenges endured in the 1990s, following the passing of his parents and grappling with the option to sell the ranch. The estate taxes on the small working ranch, in an area with some of the nation’s most expensive land, reached nearly $750,000. At the eleventh hour, sale of the ranch was averted through the utilization of conservation easement. “I am proud our family’s ranching legacy will never be surrendered to development,” states Tim Koopmann. “We used a conservation easement as a tool to deal with a lack of estate planning by my parents. I have taken a much different approach to estate planning and communication for the next generation – to sustain future generational transfers.”