NDSU Extension Service - Stark & Billings County

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Farm/Ranch Succession Planning Workshop Set

Workshops will help shape the future of the family farm/ranch

Many North Dakota farmers and ranchers are approaching retirement age but aren’t sure how to transition their operation to the next generation, while beginning farmers and ranchers want to secure their future in agriculture.

In many cases, generations of farmers and ranchers are working together but have yet to take the needed steps toward succession planning.

To help all of them develop a plan, the North Dakota State University Extension Service is offering Design Your Succession Plan workshops at several locations throughout the state in the next six months.

The workshop will help farm and ranch families explore what they want for their business, whether that is transferring a viable business to the next generation or deciding how to divide the farm or ranch assets.  The workshop also gives the owner and identified successor generation an opportunity to begin shaping the future ownership of the family farm or ranch – the family legacy.

Participants also will learn how to discuss the succession issue with the family, get started on developing a succession plan, and choose and work with legal and financial professionals who will help ensure the plan is workable.  By beginning the planning process at this workshop and continuing it at home, families could save money by being more prepared to visit with professionals.

Belfield – December 5, 7 and 12, 5:30 pm, Choice Financial, 201 Main St. N.; Ashley Ueckert, 701-872-4332, Ashley.ueckert@ndsu.edu

More locations will be added in the coming months.  Visit Design Your Succession for more information.

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