PLATTEVILLE - A statewide electronic media webinar meeting to discuss the first steps of farm succession planning will be at 1 p.m. Oct. 27 at the University of Wisconsin-Platteville Pioneer Farm Technology Center.
Farm business owners looking to the future of their farming operations have many issues to consider. Succession planning includes planning for the owner generation's later years; business planning to ensure the operation has financial capacity; developing the successor's management skills; and estate and tax planning. However, before addressing these areas, many conversations should take place around the values, vision and goals of the family members/farming partners and the goals of the business.
This webinar is for both the owner and successor generations to learn how to begin the succession planning process, which starts with three questions: Where is the farm now? Where do you want it to be? How do you get there? Joy Kirkpatrick, outreach specialist for the University of Wisconsin Center for Dairy Profitability, will lead the webinar.
Topics include: An overview of farm succession planning and important components; a three-step process to help businesses organize their ideas and issues around succession; exercises and worksheets to help farm partners talk about their goals; and resources available to assist farm businesses through the planning process.
Call the Grant County Extension Office at 608-723-2125 or the Lafayette County Extension Office at 608-776-4820 to register by Oct. 26.
Farm business owners looking to the future of their farming operations have many issues to consider. Succession planning includes planning for the owner generation's later years; business planning to ensure the operation has financial capacity; developing the successor's management skills; and estate and tax planning. However, before addressing these areas, many conversations should take place around the values, vision and goals of the family members/farming partners and the goals of the business.
This webinar is for both the owner and successor generations to learn how to begin the succession planning process, which starts with three questions: Where is the farm now? Where do you want it to be? How do you get there? Joy Kirkpatrick, outreach specialist for the University of Wisconsin Center for Dairy Profitability, will lead the webinar.
Topics include: An overview of farm succession planning and important components; a three-step process to help businesses organize their ideas and issues around succession; exercises and worksheets to help farm partners talk about their goals; and resources available to assist farm businesses through the planning process.
Call the Grant County Extension Office at 608-723-2125 or the Lafayette County Extension Office at 608-776-4820 to register by Oct. 26.