(Information in the following story is from: The Hutchinson (Kan.) News, http://www.hutchnews.com)
HUTCHINSON, Kan. (AP) Passing the family farm to the next generation takes a lot of planning, but officials say it’s not uncommon for Kansas farmers to avoid solidifying those plans.
Attorney Stacey Seibel says that she asked farmers about their inheritance plans at a recent seminar in Plainville.
She said 35 of the farmers were between the ages of 50 and 70, and 25 percent of them didn’t have a plan or a will. She said another 25 percent had a will, but it was more than eight years old.
Kansas Farm Bureau attorney Mike Irvin says he gets calls from members who say they don’t know what their father has planned for the farm.
Officials say farm transition is important because farmers are disproportionately older and nearing retirement.
