OSU Extension - Ross County

18/07/2024 | Press release | Distributed by Public on 18/07/2024 14:25

Cultivating Connections Conference aims to cultivate farm transition expertise

CINCINNATI, OHIO - Professionals working to pass on farm businesses to future generations successfully might find valuable resources at the annual Cultivating Connections Conference August 5-6. The conference is hosted by the Agricultural and Resource Law program at The Ohio State University College of Food, Agricultural, and Environmental Sciences (CFAES).

This year's conference will take place at the University of Cincinnati's College of Law in Cincinnati. It will convene attorneys, accountants, appraisers, educators, and other farm transition planners from across the nation, said Peggy Hall, director of the Ohio State University Extension Agricultural and Resource Law program. OSU Extension is the outreach arm of CFAES.

The upcoming gathering aims to cultivate expertise in farm transition by providing a forum for discussing laws, strategies, and tools used in planning, she said.

"The Cultivating Connections Conference targets professionals who enable a critical issue today: the successful transfer of agricultural operations from one generation to another," Hall said. "The event aims to build strong relationships within a supportive community dedicated to preserving family farms' legacy."

Key topics will include preparing for tax changes in 2025; utilizing business entity discounts; understanding rural appraisals; drafting prenuptial agreements; divorce impacts on transition planning; implementing estate plans; communication strategies; organizing client information; and ethical considerations in farm transition planning.

A distinguished faculty comprising attorneys, accountants, academics, and appraisers will share their knowledge at this conference through various sessions including an in-depth, real-life case study analysis focusing on practical techniques related to estate planning considerations along with tax implications.

Attendees will have opportunities for networking with peers sharing experiences while building professional relationships within this specialized field.

Continuing legal education credits for Ohio and Iowa, and IRS continuing education credits have been applied for by the organizers.

Conference co-sponsors are Iowa State University's Center for Agricultural Law and Taxation and the National Agricultural Law Center. The Association of Farm Transition Planners was formed after last year's inaugural conference by these three institutions to continue supporting the nation's farm transition planning professionals.

For more information and registration, visit go.osu.edu/cultivatingconnections. A virtual attendance option is also available.