Succession planning can be an important part of owning a family farm or other agricultural operation, and a Fairmont workshop has been organized that will explore this topic in depth.
This learning opportunity, which is intended for both beginning and established farm owners and also their successors, will provide a wealth of information that can be helpful to those who are making succession plans for a farm. Tickets for those who will be attending on their own are $300.00 each, and a special discount is being offered so that up to five members of a family will be able to attend together.
The symposium will provide an overview of succession planning, including its stages and why it is important. There will be a discussion about why it can be helpful to include the whole family in the task, how to keep the lines of communication open between the generations during the process, and also how to set attainable goals.
Along with this, the participants will learn about the use of wills, trusts, business entities, and life estate deeds as well as buy-sell agreements, asset protection, the essentials of estate documents, and taxation. A printing services provider can use comb binding and other techniques to produce manuals and a variety of other materials for this sort of occasion.
The ‘Farm Business Transition’ symposium has been scheduled for September 7 and 8 at 401 Jackson Street in Jackson. The registration price starts at $200 each.
