To successfully guide a farm operation from generation to generation, farm owners and families need to have a plan for where they are going and knowledge of how they will fund that transition. The “Farming Together: Cultivating Relationships and Having the Cash to Bring in the Next Generation” workshop will be held as a three-day lunchtime series for farm families in August.
The Purdue Extension Succession Planning Team is hosting this virtual series on August 15, 16, and 17 from 11:30am – 1:00pm (EST).
“Farm owners often want to start with legal matters associated with transition planning. However, farm families need to find consensus on their goals and where they envision the operation moving in the future first,” says Renee Wiatt, Purdue family business management specialist. “A large part of agreeing on goals and future vision for the farm can be achieved through proper relationships and communication, as well as knowing where to start.”
There will be presentations from Extension Educators and Specialists on “First Steps To Succession Planning” along with “Financial Feasibility of Farm Succession.” An attorney will also present at the workshop on the topic, “Structuring a Succession Plan.”
During this series, you’ll learn about how and when to start those crucial conversations related to succession, you’ll hear from a lawyer about the legal aspects of farm transfer, then finish up with learning about strategies to fund the transition of the farm to the next generation. All sessions will be virtual and require registration.
The cost to participate in this virtual workshop series is $40 per person. Register in advance of the program at https://cvent.me/r9yl02 . A Zoom link will be emailed to registered individuals by Aug. 14.
The Purdue Succession Planning Team is comprised of Purdue Extension educators and specialists who seek to address the needs of families planning the continuation of farm businesses. The team currently offers programming through regional workshops, succession planning presentations and farm family consultations. The workshops are made possible through grant funding from North Central Extension Risk Management Education Center.
Visit our homepage at www.extension.purdue.edu/putnam or you can contact the local Purdue Extension Office by calling 765.653.8411 for more information regarding this week’s column topic or to RSVP for upcoming events. It is always best to call first to assure items are ready when you arrive and to RSVP for programs. While many publications are free, some do have a fee. Purdue University is an equal access/equal opportunity institution. All times listed are Eastern Time.
Upcoming Events:
Aug. 15, 16, 17 – Succession Planning Virtual Workshop Series, 11:30 am – 1pm, $40 per registration, register at https://cvent.me/r9yl02
Aug. 18 – Summer PARP, 9:00-11:30am, Fairgrounds, register at https://tinyurl.com/AugPARP23
Aug 23-Sept 13 – Dining with Diabetes, Wednesday’s at 2pm, Roachdale Community Center, pre-registration required at asmith22@purdue.edu
