It’s never too early to start planning for the future, especially if you own a farm. Farm Bureau Financial Services is launching a new series of farm succession workshops in Iowa designed to help farmers prepare to transition their family farm to the next generation. The first workshop is March 7 in Iowa Falls.
While the first four are in March, the workshops will be held throughout 2019. Called “Changing Hands — Your Legacy, Their Future,” this series aims to help farmers map a strategy to protect their legacy for future generations and ensure a successful transition. Free and open to the public, the workshops are part of Farm Bureau’s efforts to prepare farmers to make business succession decisions.
Create strategy to fit needs
Nearly all farms in the U.S. — about 99% — are owned by families, and 70% of U.S. farmland will likely transfer to new owners in the next two decades. The workshops will help guide farmers through important questions, such as “How can I treat all my heirs fairly?” and “How can I protect my assets?” The workshops will also address the complexities of financial, emotional and family dynamics.
“Farm Bureau Financial Services has a long history of serving farmers, and we’re proud to continue that service with our farm and ranch succession workshops,” says Nancy Wiles, marketing communications vice president. “These workshops are a great opportunity for farmers to start thinking about the transition process. It’s not something people like to think about, but it’s an important step to take to help ensure the continuation of their life’s work.”
1st four workshops in March
New workshops and their locations will be announced regularly during 2019. While the workshops are free and open to the public, registration is required at cvent.com. For more information, visit fbfs.com/changing-hands. The first four of the succession seminars are in March at these locations:
- March 7. 11 a.m. at Highland Country Club, Iowa Falls
- March 12. 11 a.m. at Jackson County Federation, Maquoketa
- March 13. 11 a.m. at Fayette County Federation, Fayette
- March 26. 6 p.m. at Pizza Ranch, Iowa City
“Our workshops are all about helping you learn more about succession strategies and planning tools that can be customized to fit your needs,” Wiles says. “We’ll cover a wide variety of information to help you plan how to keep your business in the family: methods of transferring assets, distributing assets fairly among your heirs and reducing risk by protecting your assets.”