Plan a successful succession

While difficult, families must talk succession planning.
Southwind Extension District will host a succession planning conference Feb. 20 at the Bowlus.

By

Community

February 11, 2020 - 10:50 AM

Finding the time to talk to your family about succession planning may be difficult. 

Farmers, ranchers and rural business owners may also be uncomfortable with the thought of ending their involvement with the farming business and selling or handing over control. 

Making the time to develop a solid transition plan for your farming business may ensure your family’s wishes are met, and emotional stress is minimized.

K-State Research & Extension, in cooperation with Community National Bank will offer a one-day conference Feb. 20 designed to introduce succession planning and bring awareness to local resources to support families as they prepare for the future of the enterprise. 

We will discuss topics related to family communication, financial and legal considerations and have a panel discussion from those who have successfully navigated succession.

All who are involved with a family agricultural operation are encouraged to attend. 

Cost to attend the event at the Bowlus Fine Arts Center is only $5, and includes lunch. Registration details can be found by visiting the Southwind Extension District webpage and following the link at www.southwind.ksu.edu.

The average age of U.S. producers continues to rise and families need to explore options for the transitional feasibility of current and future operators. Succession planning is a step-by-step process where families work together to develop a plan to incorporate the next owner and pass on knowledge and resources that will sustain the operation.

K-State Research & Extension can help the family identify strengths, barriers and opportunities as they pass the farm business on to the next generation.

Families often do not know where to start with succession. KSU Specialists and local leaders will provide you with a step by step source to guide you in the process and answer your questions.

For further details, please call the Southwind Extension District at 620-365-2242.

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