Success StoryAssisting Farmers in Kentucky With Estate Planning



Assisting Farmers in Kentucky With Estate Planning

Author: Linda Brown-Price

Planning Unit: Administration - Cooperative Extension Service

Major Program: Financial Education - General

Outcome: Initial Outcome

An estate planning online seminar for farmers in Kenton County on January 27, 2022, in conjunction with the Kenton County Agriculture Agent and a local estate planning attorney was conducted. Response was small but the mother and daughter were able to ask pertinent  questions and began to make financial decisions  based on their circumstances. They gained knowledge needed to obtain assistance from a financial planner.

Family-owned farms and ranches are often “asset-rich and cash-poor,” which means they have valuable assets in the form of land, machinery, livestock, and/or crops, but they have little available cash. This can make it financially hard for younger family members to take over the family farm. To aid in financially planning to pass down the farm, Kentucky State University Cooperative Extension held a Women In Agriculture Webinar on June 14, 2022, to address this issue.  Collaborating with an Estate Planning Attorney the topic of “Key Concepts and Steps in Agriculture Estate Planning”  topics  discussed were legacy estate planning, how to get started in creating a plan, taxes, trusts, and communication with family members. Fifty-seven participants from across the state signed up for this online seminar.

Questions from participants will be utilized  in follow-up surveys and strategies for future webinars.







Stories by Linda Brown-Price


Kentucky State University Cooperative Extension Ag Day

about 10 months ago by Linda Brown-Price

A display depicting Family and Consumer Sciences was set up and staffed at the Kentucky State Univer... Read More


Stories by Administration - Cooperative Extension Service


Kentucky 4-H Youth Development Institute Graduates 4th Cohort

about 4 months ago by Charles Stamper

Many times 4-H Youth Development Agents feel they go from one activity to another activity without u... Read More


Mental Health is Health

about 4 months ago by Charles Stamper

According to the Centers for Disease Control (2024), suicide is the leading cause of death for ages ... Read More