MU Extension offers program on succession, estate and retirement planning

University of Missouri Extension offers a three-night class on estate, succession and retirement planning for farmers and business owners at locations throughout the state and online.

Darla Campbell, MU Extension agricultural business specialist in Lancaster, Missouri, said the goal of the class is to prepare small-business owners and farmers to strategically transfer their business assets.

Campbell has more than 20 years of experience in succession and estate planning. She teaches the program with other extension specialists and a probate judge.

"Your Farm, Your Business, Your Future" will be held 6-9 p.m. on three consecutive Tuesdays: Jan. 19, Jan. 26 and Feb. 2. In case of bad weather, the alternate date will be Feb. 9.

"Many farmers and agricultural business owners do not have a plan to transfer ownership or management of their farm upon death or illness," Campbell said. "Without one, the state determines what will happen, and that may not be what the owner would have wanted."

The class will help owners of farms and small businesses begin creating a plan to transfer a farm or business to the next generation. Topics include goal-setting, assessing the strengths and weaknesses of a farm or business, the probate process in Missouri, estate planning tools and calculating retirement needs.

There are no local physical locations for the class, but there is an online option for individuals who cannot attend in person.

Preregistration is required by 5 p.m. Monday, Jan. 18. Cost is $110 per individual and $60 for each additional person from the same business. The cost includes a handbook with case study examples and templates for planning. 

For more information, contact Campbell at 660-457-3469 or campbelld@missouri.edu.