Design Your Succession Plan/Remote/Tuesday evenings in November & December

Up to the Minute

From Cornell Cooperative Extension of Broome County:

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% of farm families hope to pass the family farm on to the next generation, but research shows only 30% of family farms survive to the second generation, and only 12% 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 provides 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. Attendees will learn through scenario-based learning how to relate real-life experiences to the farm transition process. This webinar series will utilize a “flipped classroom” which requires that attendees complete pre-work prior to each session. This could include watching videos, visiting websites, or completing a handout/worksheet. This pre-work should not take more than 15-20 mins each week, but will enrich your experience during each of the weekly webinars.

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

This six session Tuesday evening series is being offered via Zoom with an online learning platform for use in-between sessions. Session dates are: 11/2, 11/9, 11/16, 11/30, 12/7 & 12/14. The cost is $100 per farm family and includes a workbook valued at $25. There are scholarships available for veterans. Please choose veteran as your farm category and there will be no charge for participating in this series. There will be follow-up to confirm your veteran status prior to the start of the series. There is also the ability to add additional workbooks at a cost of $25 at registration. Contact Laura Biasillo at lw257@cornell.edu or visit https://tinyurl.com/z5ujstpw for more information. The registration deadline is October 24th to ensure on-time delivery of the workbook.

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