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Farm and Small Business Estate Planning

Karisha Devlin

Summary

The Farm and Small Business Estate Planning curriculum was developed by a team of University of Missouri Extension Agriculture Business Specialists with the assistance of the UMKC Institute for Human Development. This 3 session, 9 hour program provides a basic understanding of estate planning so that participants can be knowledgeable enough to seek competent professional assistance. The topics that are covered in this program include: what you’ll need to plan your estate, property ownership in Missouri, business structure, choosing your advisors, probate in Missouri, federal and state estate tax issues, estate planning tools, special estate tax provisions, long-term care concerns, family communication and starting the process of setting up your estate plan. The program is team taught by Agricultural Business Specialists, along with guest speakers, and delivered through ITV (interactive television) classroom teaching. Participants benefit from the individual expertise that different participating speakers contribute. Knowledge gained and behavior changes were determined using a pre and post evaluation and a six month follow-up evaluation. Evaluations show a large percentage change in knowledge of estate planning tools, increased communication with heirs, and steps toward completion of an estate plan.

Details

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