Ag Transition Partners, a group of educators and agricultural consultants, is launching a new, no-cost farm transition planning project that includes webinars, on-site or virtual coaching and action plan templates. The project’s multi-layer approach sets it apart from other planning processes, better helping farm families ensure the legacy of their operations. American Agri-Women, the nation’s largest coalition of farm, ranch and agri-business women, is supporting the project, along with Michigan and Minnesota Agri-Women and Wisconsin Women for Agriculture. This project is free for participating farm families and is made possible through a grant from North Central Extension Risk Management Education Center (NCERMEC) and the USDA National Institute of Food and Agriculture. According to some studies, an estimated 70{62211894bbe3543ea27fa51e74e3ab79f2baeee0f4cbac9ff4b15b5bf1d81fd0} of farms and farmland will transition ownership in the next 20 years and fewer than 50{62211894bbe3543ea27fa51e74e3ab79f2baeee0f4cbac9ff4b15b5bf1d81fd0} of farmers have estate plans; less than 70{62211894bbe3543ea27fa51e74e3ab79f2baeee0f4cbac9ff4b15b5bf1d81fd0} have named successors; and less than 11{62211894bbe3543ea27fa51e74e3ab79f2baeee0f4cbac9ff4b15b5bf1d81fd0} have farm business transition plans in place. The consequences of a failure to plan can be severe. Sign up for webinars Farmers can learn more about the process by signing up for this webinar, which will be held at noon Central time on August 18: “Farm Transition: Planning for Success I – Getting Started.” American Agri-Women is hosting the webinar. Register by following this link:https://attendee.gotowebinar.com/register/7160133337837498881 The webinar ID is133-513-027. The first webinar in this series will outline the process and discuss the blended approach for coaching families. Each family will be coached by a member of the Ag Transition Partners and action plans will be developed using the University of Minnesota’s Ag Transitions online templates. A recording of the webinar will also be made available at www.americanagriwomen.org, along with a FAQ sheet.
The second webinar session, “Farm Transition: Planning for Success II – Mapping the Process,” will be held on November 17. Registration details will be announced at a later date.
The third session, “Farm Transition: Planning for Success III – Making it Happen,” will be on a date to be announced. Why are Farm Succession and Business Transition Planning Important? Delayed planning is a complex and challenging problem. If the farm is inherited by multiple heirs, inheritance taxes and other fees may cripple the farm and its new owners. Inadequate farm succession planning may result in heirs becoming owners who are incapable of running the farm business; conflicts may develop among heirs; and the farm may have to be partitioned off to accommodate heirs who want to “cash in” on their share of the business. These scenarios can be avoided when families learn how to work together as a team, confront difficult issues and decisions and commit to making a decision. For more information, contact Kristine Ranger, project manager, at kristine@knowledgenavigators.com or (517) 974-5697. About Ag Transition Partners The Ag Transitions Partners team of ag business consultants and educators bring over 130 years of experience serving the agri-food industry in various capacities: Kristine Ranger, M.Ed., has over 35 years of experience managing and delivering educational programming, project management roles, project evaluations, and teaching and coaching producers in all aspects of business development. Joe Colyn brings 30+ years of agri-food market and value chain knowledge and specific expertise in business planning, including leadership in compiling beginning farmer resources that compliment farm transition coaching. Bob Olson brings 35 years as a professional educator and business consultant. Previously he served as an Extension Agent/Educator with the University of Minnesota, specializing in farm financial, estate and transition planning. On staff with one of the nation’s Cooperative Development Centers, he works with value-added agricultural business performing feasibility studies, market assessments, and business plans. Doris Mold brings 30+ years of practical farm business experience and consulting, specializing in business and management planning, coaching and evaluation. She is the President-Elect of American Agri-Women. About American Agri-Women American Agri-Women promotes the welfare of our national security through a safe and reliable food, fiber and mineral supply. Since 1974, AAW members have worked together to educate consumers; advocate for agriculture; and offer networking and professional development opportunities. The organization is celebrating its 40th anniversary with a Drive Across America, a five-month long education and advocacy tour. Follow the event on Twitter with the hashtag #AAW40years or follow the event on Facebook, www.Facebook.com/AgriWomen/. Go to the AAW web site for more information and to join, www.americanagriwomen.org. Find AAW on social media at: Facebook.com/AgriWomen/ and Twitter.com/Women4Ag/ (@Women4Ag).
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Download more info about the experts and the project here.
