Returning to the Farm workshop helps farm families plan for farm succession

Returning to the Farm workshop helps farm families plan for farm succession

UW Center for Dairy Profitability, University of Wisconsin-River Falls, UW-Platteville and UW-Extension are offering two workshops to help farm families plan for a son, daughter or partner to return to the farm and eventually take over the farm business.

The four-day workshop will be offered on both the UW-River Falls and UW-Platteville campuses. The UW River Fall dates are Jan. 13 and 14 and Feb., 10 and 11; and the UW-Platteville dates are Jan. 20 and 21 and Feb., 17 and 18 at UW-Platteville

Families looking toward the future of their farming operations have many issues to consider. Two issues of extreme importance to the future life of the business are the development of a son, daughter, or partner to be the future manager of the business and the creation of a management succession plan. The Returning to the Farmworkshop helps families make these plans.

Returning to the Farm is open to all farm families who want to learn more about planning for farm succession. Families are expected to participate in both sessions. At the end of the February session, families will have completed the framework of a working succession plan.

Through this program, farm businesses will:

• Determine if an existing operation is large enough to support an additional partner.
• Uncover alternatives for the transfer of farm assets.
• Recognize personalities and learn to work with each individual’s strengths.
• Write long- and short-term business and family goals.
• Learn how to address major issues that can lead to failure in a multiple generation farm business.
• Hear the current issues and information on the tax implications of farm transfer.
• Understand the tools of estate planning and business succession planning.
• Receive business succession and estate planning resources.

The registration fee for this four-day program is $300 per farming unit (up to four people per farm). This includes materials, meeting room costs, refreshment breaks and lunches. The registration deadline has been extended to Jan. 4, 2012. If you have more than four people in your farming unit attending the workshop, $80 will be charged for each additional participant.

For more information about the program or to register contact Joy Kirkpatrick, UW Center for Dairy Profitability Outreach Specialist at 608-263-3485 or by email joy.kirkpatrick@ces.uwex.edu Or to download a brochure go tohttp://www.cdp.wisc.edu/Calendar.htm and scroll down to Returning to the Farm.

12.30.2011