FBMA2940

Students will study the many aspects of farm business and/or family transition which occur in the typical farm business. Both estate planning and transition planning will be explored.Student Learning Outcomes

• Develop a plan to transfer a farm or business.
• Understand the tax implications of different types of farm transfers.
• Communicate future farm plans with stakeholders.
• Prepare a balance sheet to develop values used in the planning process.
• Determine the needs for retirement incomes and gifting of the business.
• Determine the best business structure for the transition.