Beginning this Thursday and for most Thursdays until January 21, there will be a series of farm transition-related webinars held over the noon hour. The following article was written by University of Minnesota Extension Ag Business Management educator Amber Roberts.
General Information
Join farm and land transition professionals each week as they provide educational information on transition topics each Thursday from Noon - 1:00 PM. Each week a different topic will be highlighted from goal setting, family communication, estate planning, retirement planning, and many more. Following the 30 minute presentations there will be a Q&A session and participants will receive a follow-up email with additional resources. This is a free virtual webinar series and all meetings are held through Zoom. For the best experience, please download the Zoom application for desktop.
Topic by Date
- Nov 5 - Where to Begin? Assessing Transition Readiness. Identify the beginning steps for constructing a transition plan for your farm or land and assess if all members of the family are ready to start the transition process.
- Nov 12 - Goal Setting. Understand how specific, measurable, attainable, realistic, and time-bound goals can increase the likelihood of transition success.
- Nov 19- Family Communication and Heritage. Analyze inter-generational perceptions of the farm and land as a business or as a family heirloom.
- Dec 3 - Business Structure and Land Ownership. Apply knowledge of business structures and asset ownership options to the farm and land transition process, identifying the pros and cons of utilizing structures in transition.
- Dec 10 - Estate Planning - Wills and Trusts. Analyze the components of estate planning and understand the mechanisms for an inheritance, including the impact of gift and estate taxes.
- Dec 17 - Estate Planning - Selling and Gifting Assets. Analyze the components of estate planning and understand the mechanisms for an inheritance, including the impact of gift and estate taxes.
- Jan 7 - Business Succession. Identify what farm business succession means, including the concept of transfer of management, labor, income, and ownership.
- Jan 14 - Retirement Planning. Identify emotional readiness for retirement, determine retirement expenses, and long-term health planning.
- Jan 21 - What to Do If You Don't Have an Heir? Options for farmers and landowners who haven't identified their successor.
Registration and Contacts For More Information
Interested parties can register for one, some or even all of the webinars, with Zoom links sent out by email before all webinars for which one registers.
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