Online Feeder School

Succession planning for farms

tilled farm field at dusk.
Image by Nicholas A. Tonelli via PxHere

Succession planning for farms

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Design Your Succession Plan

  • Thursday, October 8, 2020, 6:30 PM - 8:00 PM
  • Thursday, October 15, 2020, 6:30 PM - 8:00 PM
  • Thursday, October 22, 2020, 6:30 PM - 8:00 PM

Virtual: Design Your Succession Plan

October 8 - October 29, 2020


4 weekly zoom sessions - 6:30pm-8pm October 8,15, 22, 29 held in conjunction with an online learning platform to be used between meetings

How will your family farm operate in the future when the owner retires or is gone? Are you currently working with another generation who may be questioning their role in the future of the farm or are you yourself questioning your current role?


More than 80 percent of farm families hope to pass the family farm on to the next generation, but research shows only 30 percent of family farms survive to the second generation, and only 12 percent survive to the third generation. A successful transition to the next generation takes careful planning.

To help NYS farm families start their succession planning process, Cornell Cooperative Extension educators will be utilizing a new interactive program designed by North Dakota State University Extension, Design Your Succession Plan. This program will provide tools and resources for producers who want to begin the succession planning process.

Participants will have an opportunity to open the lines of communication with family to create a shared vision for the family business. They will also learn to choose and work with professionals such as attorneys, accountants, lenders, insurance agents and tax experts to construct a plan and documents that put the family's vision into action.

"The program will prepare you to envision, communicate, plan, write and shape the legacy of your family farm or ranch business, as well as save hundreds of dollars by completing these crucial planning steps before visiting with professionals," said Bonnie Collins, Farm Business Management Educator, CCE Oneida County.

This program is being offered via Zoom. The cost is $60 per farm family and includes a workbook valued at $20. Contact Nicole Tommell at nt375@cornell.edu for more information or http://cceoneida.com/events/2020/10/08/-design-your-succession-plan-online-zoom-series
Please Register here by September 30th. This will allow for timely delivery of materials. 

Contact

Myron Thurston
Agriculture Economic Development
myron.thurston@cornell.edu
315-684-3001 ext. 126

Location

This event is online

Last updated October 6, 2020