Take the critical first steps in starting your succession plan by attending a Farm Journal Legacy Project workshop.
The farm and its assets typically represent 97% of what a farm family owns. Yet, even with the farm comprising this much of a farmer’s financial worth, farmers neglect to make time for succession planning.
One of the best ways to learn more about succession planning is by attending a Legacy Project Workshop.
At this one-day session, you will find answers to your critical questions, such as:
- What are the components of a good succession plan?
- When is the right time to give up control?
- What is an equal and/or fair way to compensate all family and non-family members involved in the farm?
- Is the next generation ready to lead?
- Who should you involved in this process?
Here’s this summer’s Legacy Project workshop lineup:
July 14: Omaha, Neb.
July 16: Moline, Ill.
July 18: Austin, Minn.
Launched in 2010, Farm Journal Legacy Project workshops help families begin the process of transitioning their family farm to the next generation. The succession planning program hosts approximately 12 events in a different city each year. Attendees utilize a workbook designed specifically for the Legacy Project, which also includes worksheets and beneficial information.