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Estate & Succession Planning

Join us for a Summer question & answer series provided exclusively for members of Catholic Rural Life.

We will offer a different topic each month in June, July and August – addressing the most common questions business owners and families have about designing an efficient and effective estate and succession plan.

Facilitated by Kevin Spafford, CRL member and one of the ag industry's foremost experts on the subject of succession planning, this series will address many of your greatest concerns and offer you an opportunity to submit any questions.

Each 30-minute session will be succinct and packed with information. Kevin will provide you with his experiences regarding some of planning’s most pressing issues, followed by time to share or submit your thoughts, concerns, and questions. For those questions or concerns that may be beyond the scope of a given session, Kevin is willing to talk with you individually at your request.

JUNE 24: Estate Planning

  • What is a trust, do I need a power of attorney, and why do I need a will if I have a trust?
  • Since the new administration in DC has promised to change the estate tax laws, shouldn’t I wait to plan until I know what the new law is?
  • What is included in my estate, how is my estate valued?
  • What are the planning secrets, families use to avoid the estate tax and grow legacy estates for their families?

Following the estate planning session, we’ll provide access to the following online, printable resources:

  • Estate Planning for Business Owners – eBook
  • Estate Planning Recommendations – Worksheet
  • Equalizing Transfers to Children – eBook 
  • Action Plan – Sample Worksheet

JULY 22: Ownership Transition & Leadership Structure

  • How do I protect my children who are active in the operation while leaving an equal amount in my estate to my children who are not active in the operation?
  • How do I NOT become business partners with my brother’s [or business partner’s] spouse? Or better yet, how do I prevent them from inheriting my brother’s [or business partner’s] interest in the business?
  • Can I protect the farming operation/business from a divorce in the family, bad credit issues, and frivolous lawsuits? If so, how do I do it?
  • Should my farm/business be in an LLC, Corporation, S-Corp, or?

Following the Leadership Structure session, we’ll provide access to the following online, printable resources:

  • Transferring Ownership in a Partnership or LLC to Family Members – eBook
  • Comparison of Transfer Options – Worksheet
  • Funding the Transfer – eBook
  • Estate Flow Chart – Sample Worksheet

AUGUST 26: Financial Security

  • We don’t have a retirement plan; if all our money is tied up in the farm/family business, how do we plan for retirement?
  • Since I’m in a partnership with my sibling[s]/business partner[s], don’t we have to sell the operation if one of us wants to retire? What if I can’t afford to buy him/her out?
  • How do I make sure my family/spouse is financially secure if something happens to me?
  • What are the tax advantages to supporting worthy & charitable causes in our estate plan?

Following the Financial Security session, we’ll provide access to the following online, printable resources:

  • A Systematic Approach to Business Succession Planning – eBook
  • List of Planning Concerns – Worksheet
  • Understanding the Overlap Between the Family and the Business – eBook

Course Registration

Wealth Manager and Succession Planning Specialist

Kevin Spafford, CERTIFIED FINANCIAL PLANNER™, helps farmers and family business owners plan for succession. Kevin’s planning process is designed to enhance the family’s financial security, create a smooth ownership transition, and mitigate the tax consequences.

As the architect of the award-winning* Farm Journal Legacy Project, Kevin affected consumer behavior and improved the way family business owners engage in the succession planning process. Through the Project, Kevin has:

  • Published more than 300 columns in Agriculture’s leading magazines.
  • Facilitated workshops for thousands of farm and ranch families across the U.S.
  • Written multiple workbooks and created several client planning tools.
  • Produced weekly eNewsletters for subscribers across the country.
  • And, hosted five seasons of ‘Leave a Legacy’ TV.

Before the publication of his book Legacy by Design: Succession Planning for Agribusiness Owners (Marketplace Books®) in 2006, Kevin founded Legacy by Design, a succession and financial planning firm dedicated exclusively to serving the succession planning needs of farmers and agribusiness owners.

Today, Kevin works with client family business owners across Washington and California from his offices at Ryan Wealth Management in Spokane and Yuba City.

Among a series of professional designations and licenses, Kevin is a CERTIFIED FINANCIAL PLANNER™, and he’s earned a Bachelor of Science in Agricultural Management with a concentration in Business, from California Polytechnic State University, San Luis Obispo, CA.

On a personal note, Kevin enjoys flying, fishing, hunting, and camping. He and his wife, Anne-Marie, have been married 39 years. They are proud parents of their son Drew and his wife Dana and their daughter Sara and her husband, Michael. In October 2020, they welcomed their second grandchild. They live in Durham, CA.

* In 2011, the Farm Journal Legacy Project was awarded the Grand Neal Award considered one of the most prestigious editorial honors in the field of specialized journalism.

Contact info: Legacy by Design, LLC at Ryan Wealth Management

Email : Kevin@Legacy-by-Design.com

1212 N. Washington St, Suite 320
Spokane, WA 99201
(509) 624-5929

463 Century Park Drive
Yuba City, CA 95991
(530) 671-2100