A new
guide will help landowners sort out the issues surrounding leaving
a farm legacy to thier heirs.
The guide advises that through good estate planning landowners can
achieve financial stability without cashing in on their land. “Your
land is you legacy: A guide to planning for the future of your farm”
offers practical advise for today’s landowners and their financial
advisers. American Farmland Trust’s (AFT) revised and updated
guidebook illustrates strategies for transferring land to the next
generation while addressing personal financial goals.
“You can’t take your farm with you when you die, said
Jeremiah Cosgrove, and attorney with American Farmland Trust who is
a co-author of the guide. “But proactively planning for the
future of your land - before you retire - gives you a stake in its
outcome.”
The third edition of AFT’s bestseller incorporates recent tax
changes, serving as a reminder that estate planning, not estate taxes,
is the critical issue for farm families. While estate tax laws change,
the book presents a general planning framework that will stay relevant
for years to come. Although the guide isn’t intented as a replacement
for professional advice, it has been lauded as an excellent foundation
for both landowners and financial planners.
The book guides readers through estate planning options and pitfalls
using real-life examples and worksheets.
“The estate planning guide was very easy to read and will be
an excellent resource for farm families as they plan for the future
of their farms,” said Isabel Prescott, owner of Riverview Orchards
in Rexford, N.Y.
The book can be purchased for $13.95 by calling (800) 370-4879. An
order form is also available on American Farmland Trust’s Web
site at www.farmland.org. For more information, call Jill Schwartz
at (202) 331-7300, ext. 3011.
