Crops, Livestock, Programming

Farm and Ranch Succession Workshop

Persons of all ages are invited to attend a “Farm and Ranch Estate Planning Workshop” hosted by UNL Extension.  This workshop will be held on Friday, March 23, 2018, 9:30 AM – 2:30 PM at Nebraska Extension in Saline County, 306 West 3rd Street, Wilber, NE.

Cost to attend is $20.00 per farm operation and $10.00 for each additional family member.  Please preregister by Tuesday, March 20, 2018 by calling Nebraska Extension in Saline County, phone (402) 821-2151, to ensure that there are enough handouts, food and other materials.  The registration fee will include your meal, handouts, and presentations.pexels-photo-315653.jpeg

One presentation will focus on the decisions and situations which should be addressed when thinking about how your farm or ranch estate will be passed.  Topics will include: the need for planning, proper family communications, who makes the decisions, concept of fair versus equal, preparing to meet with an attorney, and much more.  The presentation is designed to give some basic information to those that haven’t yet started to think about their succession or transition plan for their assets.

In addition, an agriculture attorney will be making his presentation to give agricultural families the basics of what they need to start planning their wills, trusts, and other end of life documents that need to be in order.  The objective is to start the process of having the farm succession or transition planned.

Allan Vyhnalek, UNL Extension Educator for Farm Succession, will present.  He was just assigned to the Ag Economics Department recently to work on farm and ranch succession and transition.  Joe Hawbaker, Omaha based attorney, will make the legal presentation.  He has worked with farmers for over 30 years and will cover the legal aspects of end of life decision making. Hawbaker will cover estate planning basics, including incapacity planning, then succession tools and how to use a decision tree.

Participants at previous events always report that they wished they would have started sooner, when asked about the value of attending the presentation.  The consequences of not having an appropriate plan in place can jeopardize the financial stability and the future of the family.  More importantly, we need to have our wishes known to others so the legacy of the farms and ranches can be passed to the individuals or entities intended.

For more information or assistance, please contact Randy Pryor, UNL Extension Educator, phone (402) 821-2151.

Crops, Programming

Returning to the Farm

Each year UNL offers a workshop held over two weekends for students, beginning farmers, and established operations. This year the first weekend sessions are planned for Dec. 12 & 13th and the second are planned for Jan. 9 & 10th.

Bringing a young person into a farm/ranch operation presents challenges. FarmHowever, the business operation can accomplish numerous goals by helping the young person get a solid start in the operation, keeping the farm/ranch in the family, and ensuring a comfortable retirement for all involved.

Success does not come automatically; it requires effort. Blending a variety of talents and personalities into

one farming or ranching operation takes planning, communication, and management. The Returning to the Farm program is designed to assist families and operations in developing a financial plan and successful working arrangements that will meet the needs of multiple families.

During the program participants will:

  • Review financial feasibility, balance sheets and trend sheets
  • Identify estate planning issues
  • Develop a farm/ranch transition plan
  • Set both personal and professional goals
  • Look at the communication process between family members

Returning to the farm is sponsored by the University of Nebraska – Ag Economics Department. Presenters will include: Dave Aiken, Tina Barrett, Kate Brooks, Dave Goeller, Cheryl Griffith, Brad Lubben, Jay Parsons, Cory Walter and Roger Wilson.

For more information about this great program, go to Ag Econ website. I know there are local families who have particiapted and came back with great reviews on it. Let me know if you have any questions about this workshop.