Passing the farm from one generation to the next is never easy and no two farms are the same. But a little help can go a long way in starting the process.
Farm families can learn about succession planning by attending the "Business Structure, Taxes and Valuation" workshop of Purdue Extension's Farming Together series.
The workshop, to be held at four locations across the state, will focus on legal and tax issues with farm transfer, long-range business planning, operating and buy-sell agreements, and business valuation.
Each workshop will feature a local attorney and accountant as well as presentations from members of the Purdue Succession Planning Team. A panel of family farmers will share their experiences from the succession planning process.
"Families participating in the program will also have the opportunity to meet with members from the Succession Planning Team to discuss and ask questions specific to their operation," explainsTamara Ogle, Cass County Extension educator and event coordinator.
The two-day workshop will take place at these locations:
• Vincennes: Southwest Purdue Agricultural Center, Jan. 16-17
• West Lafayette: Beck Center, Jan. 23-24
• Huntington: Huntington University, Feb. 4-5
• Jeffersonville: Women in Agriculture Pre-Conference, Feb. 18-19
Day 1 programming begins at 9 a.m. and will end at 4 p.m. Lunch is included. Day 2 is a complimentary one-hour farm family meeting with the Farm Succession Planning Team.
Registration is due two weeks before the program. A program packet will be mailed to each family participating. Cost is $150 for the first four family members; each additional member costs $15.
For more information and registration, click here.