By Scout Nelson
Farm and ranch families preparing for future ownership transitions have an opportunity to learn practical succession and estate planning strategies through an upcoming educational workshop in Nebraska. The program is designed to help agricultural families build strong plans for the future of their operations.
The workshop, titled “Returning to the Farm or Ranch”, is scheduled for June 26 in Lincoln and is presented by the Center for Agricultural Profitability at the University of Nebraska-Lincoln. A special pre-workshop session focused on family communication will take place the evening before the main event.
The program brings together agricultural law, tax, and financial professionals who will provide information to help participants better understand the transition planning process. Families will also participate in activities focused on communication, goal setting, and long-term planning for their operations.
Anastasia Meyer, an agricultural economist with Nebraska Extension, highlighted the importance of addressing both business and family matters during succession planning. “Transition planning in agriculture often involves more than legal documents and financial decisions,” Meyer said. “It also requires families to communicate openly about goals, expectations and the future of the operation. This workshop will provide practical guidance for those beginning the process, as well as those looking to strengthen an existing plan.”
Several important topics will be covered during the workshop, including estate and transition planning, family communication strategies, goal setting for the operation and family, building a professional transition team, financial and legal considerations, and identifying next steps for succession planning.
The workshop is part of continuing efforts by the Center for Agricultural Profitability and Nebraska Land Link to provide valuable resources and guidance for agricultural producers, landowners, and beginning farmers throughout Nebraska.
Organizers encourage farm and ranch families to attend together and include all individuals involved in future ownership or management decisions. Registration costs $85 per person for advance registration and $100 for those registering at the event. Lunch will be provided for participants. Registration remains open through June 26.
Photo Credit: gettyimages-fotografixx
Categories: Nebraska, Rural Lifestyle