The day sons or daughters announce they’d like to take over the family farm or ranch can be a proud one, but it can also be very stressful with communication challenges, legal pitfalls and differing expectations.
To ensure the successful transition of farm ownership and management across generations, it is essential to have a business succession plan. Developing and communicating these plans to family members can be a challenge; however, the reward of sustaining the well-being of your family is worth the effort.
It is important to regularly discuss farm succession planning with your parents, siblings, children, grandchildren, and other appropriate stakeholders.
To help Kansas farmers and ranchers with the succession process, a Farm Succession Planning Seminar is scheduled for Tuesday, August 22, 2017. The regional educational seminar will be held at the United Methodist Church in Lincoln, Kansas from 10:00 a.m. to 3:00 p.m.
The fee for participation is $15 per person. There is a family rate (four or more members) of $12 per person. Payment is due at the time of registration. A catered lunch is provided.
Participants will gain knowledge and resources about the steps to keep the family farming, overcoming the family challenges to farm succession planning for success, keeping your farm in the family for the next generation, putting forward a farm succession/transition plan along with communication skills to build a working family relationship. The seminar will also include a question and answer panel with the experts.
Featured presenters include nationally and state recognized experts: Ron Hanson, University of Nebraska Harlan Agribusiness Professor Emeritus; Duane Hund, Farm Analyst Program Director at K-State Research and Extension; and Charlotte Shoup Olsen, Family Systems specialist at K-State Research and Extension.
The Farm Succession Planning Seminar is hosted by K-State Research and Extension’s Post Rock District and The Bank of Tescott. Other sponsors include Bennington State Bank and Farmway Credit Union. Pre-registration is requested by August 15, 2017. Call the Lincoln Office at (785) 524-4432.
For more information visit here or contact your local Post Rock Extension District Office.