This workshop is designed to help farm families develop a succession plan for their farm business. Attend and learn ways to successfully transfer management skills and the farm’s business assets from one generation to the next. Learn how to have the crucial conversations about the future of your farm. This workshop will challenge farm families to actively plan for the future of the farm business. Farm families are encouraged to bring members from each generation to the workshop.

Topics:

• Key questions to answer when planning for the future of the family farm business
• Family communication in the farm transition process
• Analyzing the family farm business/keeping the business competitive into the future
• Providing income for multiple generations
• Developing the next generation of farm managers
• Farm succession with multiple offspring and family members: Fair vs. Equal
• Retirement strategies
• Preparing for the unexpected
• Strategies to get my farm and family affairs in order
• Analyzing risk in today’s world
• Long term health care issues and costs
• Farm business structures and their role in estate and transition planning
• Estate and transfer strategies
• Buy/sell agreements
• Trusts and life insurance
• Tax implications of estate and transition planning
• What will my lawyer need from me?

Pre-registration is required. Deadline is Feb. 16. The cost is $20 per person, which includes lunch and one binder of all program materials per family. Additional binders can be requested for $15.