Planning for the Future of Your Farm Workshops to be Held across Ohio in 2016

Jan. 26, 2016
Photo of father and son in field

What does it take to successfully pass on the farm business to the next generation? It takes a lot of hard work, time and communication to make a successful management transfer. The Farm Transition Team of OSU Extension is pleased to be offering a series of workshops across Ohio to help farm families plan for the transition of their business to the next generation.

This workshop will help farmers assess the future of the farm business, discuss developing the next generation of managers, communicate about farm succession, review retirement planning, plan for the unexpected, consider long-term healthcare costs, understand legal considerations of farm transition and discover ways to increase family communication. This workshop will challenge farm families to actively plan for the future of the farm business. In between session, farm families will be asked to hold critical family conversations to help identify planning areas that will need work to accomplish a successful farm business transition.

Some of the key topics which will be addressed during the workshops include:

  • Key questions to answer when planning for the future of the family farm business
  • Family communication in the farm transition process
  • Providing income for multiple generations
  • Farm succession with multiple offspring and family members: Fair vs. Equal
  • Retirement strategies
  • Strategies to get my farm and family affairs in order
  • Long term health care issues and costs
  • Getting your family affairs in order
  • Farm business structures and their role in estate and transition planning
  • Estate and transfer strategies
  • Trusts and life insurance
  • Tax implications of estate and transition planning

Pre-registration is required for each location. The workshop is being taught by the OSU Extension Farm Transition team in conjunction with the Wright & Moore Law Company. The sessions currently planned for 2016 are as follows. Farm families are encouraged to attend the workshop which best suits their travel and calendar needs. Specific information for each location can be obtained by contacting the host county.

Defiance County

Dates: February 18 & 25, 2016

Location: OSU Extension Defiance County, 06879 Evansport Rd, Defiance, OH 43512

Details: RSVP by February 4, 2016

Cost: $60/person or $100 for 2 people from the same farm business.

Phone: 419-782-4771

Registration Flyer at: http://defiance.osu.edu/events/farm-business-transition-workshop

Champaign County

Dates: March 1 & 15, 2016

Location: Champaign County Community Center Auditorium

Details: RSVP by February 23, 2016

Cost: $35/person or $60 per couple

Phone: 937-484-1526

Registration Flyer at: http://go.osu.edu/agevents

Pickaway County

Dates: March 22 & 29, 2016

Location: Pickaway Co Community Foundation, 770 N Court St, Circleville OH 43113

Details: RSVP by March 11, 2016

Cost: $35/person or $60 per couple

Phone:                 740-474-7534

Registration Flyer at: http://pickaway.osu.edu/sites/pickaway/files/imce/AG_documents/2016%20Transition%20Planning%20registration%20flyer.pdf

Sandusky County

Dates:  April 6 & 13, 2016

Location: Sandusky County Job & Family Services Bldg, 2511 Countryside Dr, Fremont, OH 43420

Details: RSVP by March 15, 2016

Cost: $60 for the first person and $40 for each family member from same operation thereafter.

Phone: 419-334-6340

Registration Flyer at: http://sandusky.osu.edu/

More information about the OSU Extension Farm Transition Team and media requests can be obtained by contacting David Marrison at marrison.2@osu.edu or 440-576-9008.