Webinar to discuss aging among America’s farmers

Aging farm families face the prospect of making a difficult decision between buying long-term care insurance and keeping farm assets.

According to the U.S. Department of Agriculture, the average age for all farmers is 57.5 years. The Centers for Disease Control and Prevention puts the average life expectancy in the United States at 77 years. That likely means long-term care won’t be an option for many — it’ll be a necessity.

Robert Moore is an attorney and research specialist with the Agriculture and Resource Law Program at The Ohio State University.and he says, two-thirds of people 65 and older will need long-term care of some kind and nursing home costs are now $100,000 a year. He added there are many farms that just don’t have the financial ability to take on that kind of expense and if there’s no income or savings available, then farm assets will have to be sold.

Moore will be discussing strategies for those in ag to manage the risks involved in long-term care costs during a webinar hosted by the National Agricultural Law Center on Wednesday, July 20 at11 a.m.

There is no cost to attend the webinar and registration is online.  

For more information on the National Agricultural Law Center, visit https://nationalaglawcenter.org/