By KELLY L. HECKAMAN
Extension Educator, Purdue Extension Kosciusko County

Purdue Extension is offering two-day workshops at the Noble County Extension office on Tuesday, Jan. 27, and Wednesday, Jan. 28, for farm families wanting to know more about business succession planning.

The Noble County extension office is located at 2090 N. SR 9, Albion.

Registration for this workshop is Tuesday, Jan. 20.

Day one of the workshop will run from 9 a.m. until 4 p.m. and includes lunch. This session is highlighted by the following presentations:

• Feasibility Test of Adding a Family Member to the Farm. This test is designed to highlight the key proficiencies to successfully adding a family member. This test can be used to assess the strengths and weaknesses to implement management changes and address proficiencies needed. Cost of living after leaving the farm operation will be explored.
• Planning for the Unexpected: Assessing Farm Business Risks. Each farm can benefit from developing a contingency plan by addressing the unexpected. In this session, participants will learn to identify risk, the potential impact that risk has on their farm, and evaluate how prepared they are for tackling the various risk associated with farming.
• Succession Planning- Strategies to Transfer Farm Assets. Farming is a venture filled with assets, and when it comes to transition planning thought must be given to how we transfer these assets while ensuring the well-being of the older generation and the sustainability of the incoming farmers. This session will discuss some different strategies for transferring both machinery and land and the implications of these methods to each generation.
• Transferring Farm Management: Ready to Move Forward? This session will focus on addressing human resource and business structure questions associated with adding another owner/operator to the farm management team.

Day two is a complimentary one-hour farm family meeting with a member of Extension’s Farm Succession planning team.

Cost is $150 for the first four family members and $15 for each additional member. Registration forms are available on the Purdue Center for Commercial Agriculture’s website at www.agecon.purdue.edu/commercialag

Fore more information contact Kelly Heckaman, Purdue Extension Educator at (574) 372-2340 or [email protected].