It’s sometimes hard to consider, but not all sons and daughters are interested in carrying on the family tradition of farming.

With more education and more opportunities some farm-raised young people opt for other careers, leaving landowners in a quandary about what to do with the land.

Latest on farm bill indicates monumental changes.

While tax laws may have made it easier to pass the farm from one generation to the next, changing times have some families looking at the end of a way of life, according to a 30-year veteran of agricultural estate planning.

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Dr. Wayne Hayenga, professor emeritus and Texas A&M AgriLife Extension Service specialist from College Station, has traveled throughout Texas for three decades trying to help people pass their agricultural estates on to the next generation.

Hayenga was in the High Plains recently for seven farm and ranch estate planning workshops, which attracted about 300 people, most with the same goal in mind.

 

 

Also of interest on Southwest Farm Press:

Estate tax exemption extension urged

Don’t bet your farm: An estate plan can help preserve assets

Estate planning an important tool to insure transfer of farm assets