Farm Business Succession Retreat: Part One

Save the Date! "Farm Business Succession Retreat - Where are you now, where are you going and how will you get there?"

Families across the country dream of the day the farm will pass to the next generation. In 2008, the Cooperative State Research, Education and Extension Service (CSREES) reported that 70% of U.S. farmland would change hands by 2028. Without adequate succession planning, CSREES reports that farms are more likely to go out of business, be absorbed by larger neighboring farms, or be converted for non-farm use.

Don't let that happen to your dream! Succession planning can help ensure the dream of having the farm business transfer to the next generation will become reality. To help you move forward, CCE Ulster County, The Eastern NY Commercial Hort. Program and the Capital Area Agriculture and Horticulture Program are sponsoring two days of working facilitated time for your family or business partners to build a strong business succession strategy. In collaboration with Farm Net, Ag Mediation and farm business and legal advisors we will help you:

• Identify who is involved and who needs to be involved in decision making around the farm business succession.
• Learn to assess the farm business' financials with an eye towards succession and make a plan for investments or changes.
• Identify the issues that are preventing decisions about the future from being made and develop strategies to address them
• Develop a team and a strategy for moving forward

Session 1 (10-2) January 13 in Vorheesville or January 14 (10-2) in Highland
Where are we now? Assessing what stage of planning the farm business is for succession, what information is needed to move forward and how decisions can be made?

Session 2 (10-2) February 17 Voorheesville or February 18 (10-2) Highland
How will we get there? Identify what financial changes or investments need to be made to the farm business, what training or information do key participants need, what legal changes do we need to make? How will we do these things?

In the month between the two sessions, farms will be encouraged to begin to put a team together and develop their strategy. They can receive assistance from CCE, Ag Mediation, FarmNet and others.

The 2-session program will cost $20 for two people, and at least two people from each business should plan to attend. Support for this program has been provided by a grant from the Doris Duke Charitable Trust through American Farmland Trust.

For all event details including registration options, visit http://tinyurl.com/Farm-Bus-Succession-Planning.  For more information contact Carrie at 845-340-3990 x311 or email cad266@cornell.edu.
 

Registration Deadline is January 11.