By Scout Nelson
South Dakota State University Extension continues its work to support farm and ranch families through its winter Sustaining the Legacy conferences. These events help families understand long-term planning, estate taxes, and the steps needed to smoothly pass assets to the next generation. The goal is to reduce confusion, strengthen communication, and help families plan before facing difficult situations.
The next conference takes place at the SDSU Extension Mitchell Regional Center on January 8, 15, and 22, 2026. Additional sessions will be held in Aberdeen on February 3, 10, and 17, and in Watertown on March 3, 10, and 17. Registration is required, and seating is limited. Early registration costs $70 per person, increasing to $80 after the deadline.
Estate tax is one of the major topics covered. While many South Dakota farms may not reach the federal estate tax limit, SDSU specialists explain that it still affects planning. High land values and the possibility of future IRS rule changes make it important for families to understand their balance sheets.
Families also learn about other taxes connected to estate and transition planning, including the federal gift tax, capital gains tax, stepped-up basis, and income tax issues when moving from active farming to renting land. The state of South Dakota does not have an inheritance or state estate tax, but families must still understand how federal laws apply to their operations.
The conference welcomes families at all stages of planning. Participants learn how to pass on land, livestock, equipment, and business structures while treating all children fairly, including those not involved in the operation. Estate planning attorneys and industry experts teach topics such as trusts, wills, life insurance, retirement planning, property titles, business entities, and elder care.
According to SDSU Extension, many people delay planning because the process feels overwhelming. These conferences are designed to remove confusion and help families feel confident as they prepare for the future.
For more information, contact Heather Gessner, SDSU Extension interim Agriculture and Natural Resources Program Director and Livestock Business Management Field Specialist.
Photo Credit: south-dakota-state-university
Categories: South Dakota, Business, Education, Rural Lifestyle, Sustainable Agriculture