MU Extension offers expanded estate planning class

LANCASTER, Mo. – University of Missouri Extension offers a four-session succession, estate and retirement planning training designed for farmers, ranchers, small-business owners and their families in February.

Sessions will be held 6-9 p.m. Feb. 4, 11, 18 and 25 at four different sites: Adair County R-1 High School in Novinger, the Moberly Area Technical Center, State Technical College of Missouri in Linn and the Carrollton Public Library.

MU Extension agribusiness specialist Darla Campbell said, “We have been offering estate planning classes for at least 12 years, but this class has added succession and retirement planning for a more complete approach.”

The class will be team-taught by several MU Extension specialists with expertise in different areas. “One of the goals of the class is to increase participants’ knowledge and comfort level so you will seek out additional professionals to complete your overall plan,” Campbell said.

Instructors will offer information on how to set goals, communicate within family meetings and understand the differences between generations. Succession planning topics will include business structure, who should be involved, choosing advisers and how to evaluate the business’s current position.

Estate planning topics include types of property ownership, estate and gift taxes, non-probate transfers, gifting, insurance, and probate issues that can help farm and business owners understand their options.

Karl DeMarce, associate circuit judge in Scotland County, will speak to attendees about the probate process in Missouri. The final class covers retirement issues.

Register as an individual or a couple by Jan. 29 with Campbell at [email protected] or 660-457-3469.

For more personal finance information from MU Extension, including features, answers to frequently asked questions and learning opportunities, go to www.missourifamilies.org/money. Resources for small-business owners are available at http://extension.missouri.edu/business.