Keeping Your Farm in the Family for the Next Generation
I would encourage any farmers, spouses, and adult children to consider attending this Farmers and Ranchers Program! Communication and fair transition plans are keys to keeping family ties and the family farm strong. I’ve watched too often where communication doesn’t occur-even most recently with my extended family-and the heartache caused as a result. Work on the communication and transition plan now before it’s too late!
The final Farmers & Ranchers College program for the 2012-13 programming year will be held on March 14, 2013 starting at 6:00 p.m. with a meal and the program to follow. It will be held at Evening with Friends Restaurant in Milligan and will feature Dr. Ron Hanson, Neal E. Harlan Professor of Agribusiness, Ag Economics Dept., UNL. A description of Hanson’s program is provided below.
The entire process for mapping out a succession plan to transfer the eventual ownership of a family farm from one generation (parents) to the next generation (their adult children) can be an overwhelming task for many families. Where does this process even begin? Who makes the final decisions? Can you be fair to everyone involved? What if there is not good communications within the family? How do you keep emotions and personal jealousies from taking over and preventing good decision making? These…
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Posted on March 3, 2013, in Cash Rent/Lease, Crop Updates, Discussion Topics, Reflections and tagged estate planning, farm, farm transition, Nebraska, next generation, small business, transition plan. Bookmark the permalink. Leave a comment.