Transitioning a farm from one generation to the next is a complicated matter. Not only should business and financial issues be considered, but potentially difficult conversations about when a transition should be made and the direction that the farm is heading must take place.

The Returning to the Farm Seminar, offered by the Beginning Farmer Center through Iowa State University Extension, is designed to help farmers start these conversations. The seminar will be held Jan. 10-11 and Feb. 8-9 at Gateway Hotel and Conference Center in Ames. The four-day seminar provides an opportunity for families to begin developing a succession plan.

ISU Extension’s Beginning Farmer Center works to help multigenerational farms and the people involved understand what needs to be discussed and considered as a transition approaches.

Develop a plan
“During the 24-year history of this seminar, attendees share two common themes,” says Dave Baker, director of the Beginning Farmer Center at Iowa State. “They are more prepared to actually start the conversation regarding transitioning the family farm and they are equipped with a progressive, seven-step system to use to prepare and put the transition in place.”

The seminar will cover topics including conflict resolution, goal setting, business analysis, estate planning, farm planning and farm management. It provides multigenerational farm families an opportunity to discuss how to live and work together as the farm business is passed from one generation to the next. ISU Extension specialists, as well as other industry experts, will present throughout the seminar.

Attend as family, ISU students earn credits
Cost for the seminar is $450 for up to four participants. Each additional participant is $50. The registration fee is for all four days of the seminar and includes lunch each day and a Farm Savvy binder filled with worksheets, exercises and additional management resources. Part one of the seminar will be Jan. 10-11 and the second part will take place Feb. 8-9.

Credit hours are available for ISU students, says Baker. Iowa State students can earn up to two credit hours for attending the seminar with their family. There is no additional academic cost to students currently carrying a class load of at least 12 credits. Students and their family must attend all four days of the seminar and complete a business plan on paper to receive credit.

Source: Iowa State University