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Planning for Farm & Ranch Succession, Iola

March 19, 2015

A series of five “Planning for Farm & Ranch Succession” conferences will be hosted by K-State Research & Extension and Kansas Ag Mediation Services as part of a North Central Extension Risk Management Education Grant. These one-day conferences will address an important issue faced by many Kansas producers and communities – farm or ranch succession.

 Conference dates:

  • Saturday, January 10 at Pratt Community College, Pratt
  • Friday, January 16 at Kansas Farm Bureau Plaza, Manhattan
  • Saturday, January 17 at Flint Hills Technical College, Emporia
  • Tuesday, March 3 at the K-State Agricultural Research Center, Hays
  • Thursday, March 19 at Allen Community College, Iola

Conference registration is available at ksre.k-state.edu/kams or register by phone, 1-800-432-8222.

Succession Planning 

Succession – the process that transfers farm and ranch ownership, management and leadership from one generation to another – is an important issue on farms & ranches and in rural communities across Kansas. Very few topics in agriculture take such an emotional toll on farm and ranch families as succession. Unfortunately, there are very few entities positioned to help farm and ranch families learn about and develop a comprehensive succession plan. K-State Research & Extension can fill this void.

A multidisciplinary team of K-State Research & Extension professionals have developed a comprehensive succession education and service program. The program will enable K-State Research & Extension to:

  • offer five regional one-day farm and ranch succession conferences across Kansas to build knowledge about farm & ranch succession issues
  • develop and maintain a website dedicated to providing archived succession planning webinars, videos and other educational resources
  • provide succession planning facilitation services to farm and ranch families
  • train Extension professionals and other interested parties to be succession planning facilitators

 

Tentative Agenda for Succession Conferences

9:00am            Introduction to the conference.

10:00am          The why, how and what of succession planning.  Presented by Dr. Gregg Hadley.

10:45am          Break

11:00am          Family Dynamics and Communication. Presented by Charlotte Shoup Olsen and Charlie Griffin.

11:45am          Lunch with a panel discussion of producers “Our Story”.  Char Henton will be facilitator for the panel.

1:00pm            Financial and business considerations. Presented by Duane Hund and Forrest Buhler.  Topics include: money issues associated with succession—feasibility, resource inventory, current status, developing a business plan; and farm business entity analysis.

2:00pm            Power transfer issues. Presented by Gregg Hadley and Charlie Griffin.  Topics to include: Assets, work division, leadership—management structure.

2:45pm            Break

3:00pm            Attorney – Legal Issues. Presented by attorneys with expertise in farm estate planning. This would be a 60 minute segment with 45 minutes of presentation and 15 minutes of Q/A. Topics would include: Estate planning issues and techniques—taxes, wills, trusts, buy-sell agreements, etc.

4:00pm            Timeline for nuts and bolts services under the grant. Presented by Janel Koons. 20 minutes.

 

 

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Details

Date:
March 19, 2015

Organizer

Kansas Agricultural Mediation Services
Website:
http://www.ksre.ksu.edu/kams/

Venue

Allen County Community College
Iola, + Google Map