Clemson Cooperative Extension is partnering on a program aimed at guiding South Carolina farmers through what can be an intimidating process: developing and implementing a transition/succession plan for their farms and timberland property.
In partnership with South Carolina Farm Bureau and with support from a U.S. Department of Agriculture-National Institute of Food and Agriculture grant through the Southern Extension Risk Management Education Center, Clemson Extension will hold a series of Farm Transfer Workshops across the state from February until April 2019.
“At first, farm transfer may seem daunting, but it doesn’t have to be that way,” Extension associate professor of agribusiness Adam Kantrovich said. “This is not typically something that is done quickly, so you should prioritize some time to work on this plan like you would any other farm activity. Seek to develop your plan in a thoughtful manner, keeping your family goals in mind: a plan that provides financial security to the senior generation, provides opportunities to the younger generation and maintains family harmony.”
While the program cannot cover everything there is to know about farm transfer, it will allow attendees to become familiar with the concepts and how such plans generally work before beginning the process.
Two workshop options are available — short half-day (introductory program) and whole day (planning program) — topics covered include tips on setting goals and family communication, tax management strategies, how to navigate legal agreements and which professionals you need on your transfer team. Half-day workshops cost $10 per person and whole-day workshops are $20 per person.
Half-day events will be held in St. Matthews, Chester, Duncan, Anderson, Conway, Florence and Columbia. Whole-day workshops begin March 12 in Florence and will also be held in St. Matthews, Anderson, Duncan, Columbia and Aiken.