NDSU Schedules Farm Transition Planning Workshop

The North Dakota State University Extension Service has scheduled a workshop to assist farm families with the transition from one generation to the next. This will be a four-day workshop held on Nov. 30, Dec. 1, Dec. 14 and Dec.15 at the Radisson Inn in Fargo.

The transfer of a farm business from one generation to the next can present many challenges. However, the family can accomplish goals in the process, such as keeping the farm/ranch in the family, providing a solid start to a young person’s farming career and ensuring a comfortable retirement.

“It is never too early to begin planning for the eventual transfer of a business to the successors,” says Dwight Aakre, NDSU Extension Service farm management specialist. “Depending on the size and complexity of the business, it may take several years to accomplish this goal. Many farming families have one or more children who would like to continue the farming business, as well as other children with no interest in farming or ranching as a career. It is important to consider the impact the business transfer will have on all members of the family and to develop a plan that treats all members fairly.”

The cost of the workshop is $250 per family of four. There is a $50 charge for each additional family member. Preregistration is required. The registration deadline is Nov. 1. To register or request additional information, call (701) 231-8642.

Presenters include John Baker, attorney, Beginning Farmer Center, Iowa State University; Bruce Middaugh, vice president and agribusiness consultant, AgCountry Farm Credit Services; Terry Knoepfle, attorney and associate professor, NDSU; and NDSU Extension Service staff.

In addition to the NDSU Extension Service, other sponsors of the workshop include North Central Risk Management Education Center and AgCountry Farm Credit Services.

NDSU Agriculture Communication