UW Center for Dairy Profitability, University of Wisconsin-Extension and UW-River Falls are offering a workshop 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 the UW-River Falls campus. The dates are January 17 and 18 and February 14 and 15, 2014.
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 succession plan. The Returning to the Farm workshop helps families make these plans.
Returning to the Farm is open to all farm businesses who want to learn more about planning for farm succession. Participants are expected to participate in both sessions. At the end of the February session, families will have several components of a succession plan completed.
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 $325 per farming unit (up to four people per farm). This includes materials, meeting room costs, refreshment breaks and lunches. The registration deadline is Jan. 8, 2014. 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 firstname.lastname@example.org Or to download a brochure go to the UW Center for Dairy Profitability website’s calendar http://www.cdp.wisc.edu/Calendar.htm and scroll down to Returning to the Farm.
Returning to the Farm is partially funded by a USDA Risk Management Agency Cooperative Agreement, UW-Center for Dairy Profitability, UW Cooperative Extension and UW-River Falls.