The Minnesota State Centers of Excellence are proud to partner with Minnesota Farm Business Management, Minnesota Agricultural Educators leadership Council, Minnesota Dairy Initiative and the Minnesota Department of Agriculture to present retreats on Farm Transition.
The retreat is about farm business succession and family estate planning. It is intended to be useful for established farm owners and their successors. An emphasis will be on not only how to transfer the ‘financial business’ but how to transfer the ‘management and responsibility’ of the farm. Other topics covered in this workshop include:
- the stages of succession planning
- contribution and compensation
- balancing the interests of on farm and off farm heirs
- the importance of communication
- goal setting
- analyzing cash flow
- the use of trusts, wills, and life estate deeds
- and more
There will be a series of one day workshops and one and a half day retreats. For more information about either workshops or retreats please contact Megan Roberts at email@example.com or Jim Molenaar at firstname.lastname@example.org or at 320-894-9124.
The one and a half day retreats focus on both transferring the financial business and transferring the management and responsibility of the farm. The retreat is designed to allow time for significant planning discussion within the farm family. It is highly recommended that each member of the family involved in the farm transition attend this retreat. Each retreat will run from 4:00 pm -8:30 pm Friday and 8:00 am – 4:00 pm Saturday. These workshops will be held at the following dates and locations.
The one day workshop is an introductory workshop and will feature information on farm goal setting, family communication, business structure, mechanics for inheritance and transition.Participants will also learn about the Farm Business Management Program and SCORE mentoring.