cultivating security: cultivating security: estate planning for new mexico farm and ranch families...
TRANSCRIPT
Cultivating Security:Cultivating Security:
Estate Planning for New Mexico
Farm and Ranch Families
Amy Lamb
New Mexico State UniversityUndergraduate Research and
Creative Arts Symposium
Introduction Purpose Background Review of Previous Initiatives Research Objectives Research Design Methods Results Conclusions Implications Recommendations
Purpose To determine how the New Mexico
Cooperative Extension Service can best provide estate planning information to New Mexico farm and ranch families.
Prevalence of sole proprietorships
Characteristics of agricultural property
Background:Estate Planning in Agriculture
Background:Agriculture in New Mexico
57% of land in agriculture
Growth in both numbers of farms and farm income
Rich agricultural heritage
Offices in every county Affiliated with NMSU Four main program areas
Agriculture and Natural Resources Home Economics Community and Economic Development 4-H Youth
Background:The New Mexico Cooperative Extension Service
Review of Previous Initiatives
Areas of Interest
Workshop Format Options Course Design Teaching Methods
Workshop Content Options Issues Estate Planning Tools
Format Options: Course Design Voluntary Low/No cost Often Collaborations
Format Options: Teaching Methods Take-home references Speakers
Content Options: Issues Preparing the Business Preparing the Family
Content Options: Estate Planning Tools
Research Objectives To describe New Mexico Cooperative Extension Agents
by demographic factors such as county, professional responsibility, and tenure.
To describe the comfort levels and abilities of NM Cooperative Extension Agents to coordinate or deliver estate planning workshops.
To determine the topics perceived by NM Cooperative Extension Agents to be of the most relevance to New Mexico farm and ranch families.
To describe the most preferred program formats, teaching methods, and program supplements currently used by New Mexico Cooperative Extension Agents.
Research Design Descriptive
Survey Research Web-based questionnaire
Population – NM CES Personnel Agriculture Agents, Home Economists, and
Program Administrators
Purposive Sample
Methods: Instrument Web-based – Zoomerang
Reviewed by a panel of experts to determine content and face validity
Non-response handled by comparison of early and late respondents (Miller & Smith, 1983)
Methods: Instrument
Methods: Data Collection Cover letter
Incentive
Delivered via e-mail
Reminder message
Non-respondent follow-up
Results: Objective 1
To describe New Mexico Cooperative Extension Agents by demographic factors such as county, professional responsibility, and tenure.
Results: Objective 1
Results: Objective 2
To describe the comfort levels and abilities of NM Cooperative Extension Agents to coordinate or deliver estate planning workshops.
Results: Objective 2
Other Responses:
•Urban Areas rich in duplicating services
•Concerns about time limitations
Results: Objective 2
Results: Objective 2
Results: Objective 2
Results: Objective 3
To determine the topics perceived by NM Cooperative Extension Agents to be of the most relevance to New Mexico farm and ranch families.
Results: Objective 3
Other Responses:
•Land Trust Options
•Basic Budgeting
Results: Objective 4
To describe the most preferred program formats, teaching methods, and program supplements currently used by New Mexico Cooperative Extension Agents
Results: Objective 4
Results: Objective 4
Results: Objective 4
Results: Objective 4
General Comments Topic area is “needed programming”
Critical timing as related to adjustment of the Tax Relief Act of 2001
Potentially emotional for clients
Conclusions Estate planning programming is currently
not widely offered by the NM Cooperative Extension Service
A demand for estate planning education exists in New Mexico as perceived by NM Cooperative Extension personnel
Conclusions, cont. Extension personnel often engage in
multiple responsibilities
Extension personnel are more comfortable with offering this program content with the support of professionals/specialists as opposed to independently delivering the program
Implications Curriculum for an estate planning
workshop should be: Comprehensive Supported by extension specialists In modular form Supplemented by prepared written and online
documents (bulletins, worksheets, press releases)
Recommendations/Future Plans Survey research directly involving
agricultural producers to compare perceived estate planning needs
Development of curriculum
Pilot program
Thank You!
Questions?