Planning farmís future session Dec. 1
Cooperative Extension, in conjunction with Farm Service Agency in Rowan County, is sponsoring an informational session for producers titled ěPlanning for the Future of Your Farm (and How to Ask the Right Questions).î
The program is scheduled for Thursday, Dec. 1, 7 p.m. at the Agricultural Center on Old Concord Road in Salisbury. The program will be led by Ted Feitshans, extension associate professor at N.C. State University. He is also a North Carolina licensed attorney.
Growing up on a farm in Georgia, Feitshans is familiar with real life experiences in farming operations and the potential risks involved. Farm owners often ask about whether they should be an LLC or a corporation for their farming operation, whether to use a living trust or whether to place a conservation easement on the farm. These are a few of questions facing aging farmers and producers.
The answer depends upon some fundamental questions such as: When do I wish to retire (or do I wish to retire)? Can I afford to retire if I wish to do so? Are there family members that wish to farm the land when I retire (or am unable to farm)? Do I wish to keep my land in farming? If no family members wish to farm, are there others who might be interested in farming my land?
Information on these and other questions will be discussed at the meeting. Space for the information meeting is limited. Please contact Cooperative Extension at 704-216-8970 by Nov. 28 to reserve your space.