SDSU Extension to discuss estate tax at Sustaining the Legacy conferences

BROOKINGS S.D. – South Dakota State University Extension will continue to assist farmers and ranchers with long-term planning through its Sustaining the Legacy conferences across South Dakota this winter.

The next conference is at the SDSU Extension Mitchell Regional Center on Jan. 8, 15 and 22, 2026. Early registration is $70 per person up to two weeks before each conference, or $80 after that. Registration is limited, so register early to ensure your chair.

Additional conferences will be held in Aberdeen on Feb. 3, 10 and 17, 2026; and Watertown on March 3, 10 and 17, 2026. Registration is required at the SDSU Extension Events page and search “legacy”.

One of the topics will be estate tax, which has an impact on the family operation even if the federal estate tax limit isn’t a factor, according to Heather Gessner, SDSU Extension interim Agriculture and Natural Resources Program Director and Livestock Business Management Field Specialist.

"Family communication about death and taxes isn't fun. I get that, but at the same time, dealing with the aftermath of an estate gone wrong is worse." Gessner said.

For many South Dakota farmers and ranchers, the federal estate tax limits will not be a factor in their planning process. However, a solid understanding of the farm’s balance sheet needs to be taken into consideration as land prices remain high and the potential for IRS rule changes is ever-present.

Other taxes families need to understand as they relate to their estate and succession plan are the federal gift tax and limits, capital gains tax and stepped-up basis, and income tax issues when moving from active farming to being a landlord. South Dakota residents do not have an inheritance tax or state estate tax.

The conference is designed for farming and ranching families at all planning stages. Participants will learn methods to pass on farm and ranch assets and businesses and provide a financial inheritance to non-farming and ranching children. Estate planning and ranch transition attorneys, along with other industry experts, will present the material.

Topics will include:

• Trusts
• Business structures, LLCs, LLLPs and corporations
• Life insurance
• Wills and probate
• Titling property
• Contracts
• Retirement planning for landowners
• How to access retirement benefits (Medicare, Social Security)
• Elder and end-of-life care planning

"There are so many parts to consider in an estate or transition plan that it's easy to put off. And it's easy to put off doing things we don't fully understand. I hope to teach attendees about the parts and take away the mystery about the process,” Gessner said.

For more information, contact Heather Gessner, SDSU Extension interim Agriculture and Natural Resources Program Director and Livestock Business Management Field Specialist.