February 20, 2013

March 4 Estate Planning Program to Address Recent Tax Changes

Estate planning and basic business transition plans may need to be reviewed in light of the "fiscal cliff" legislation recently passed by Congress and retroactive to Jan. 1, 2013. While the law allows for the continuation of the $5 million individual lifetime exemption, there were changes to the overall estate tax rates.

For Nebraska and regional producers, this is a second chance to revisit old estate plans or to begin developing a new one. With the current rate of real estate and asset growth in our farming and business communities, the individual exemption may be reached relatively quickly.

The UNL Extension Northeast Research and Extension Center will host a program on “Planning for the Future of Your Estate” from 9 a.m. to 3 p.m. March 4 at the Lifelong Learning Center in Norfolk. This program will cover the basics of estate plans, estate planning tools, business transfer, and intergenerational communications.

Participants will learn how to begin the process of estate planning or to critically evaluate and change an existing plan, based on individual goals. Take this opportunity to visit with an expert lawyer in the arena of estate planning, business transition, and familycommunications/relations.

Program

Topics include:

• Planning with the end in mind
• Estate planning basics
• How to manage family in estate planning
• Various estate tools that you can use to meet your goals
• How business transition compliments your estate planning goals
• Understanding and working with “the other generation”

Presenters include:

• Tim Lemmons, Extension educator, Norfolk
• Tom Fehringer J.D., family lawyer
• Al Vyhnalek, Extension educator

Registration

Space for this program is limited.To register,  visit http://nerec.unl.edu/ or call 402-370-4000. The cost is $30 per person or $50 per couple and includes materials and a catered lunch.

Tim Lemmons
Extension Educator, Norfolk