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         Ag estate planning, leasing workshops scheduled for Panhandle in November

The estate planning workshops will offer tools and strategies to effectively plan, start and complete estate and transition plans, offer background on common mistakes during the process and highlight essential considerations for creating and carrying out estate and succession plans.

 

         How to Make a Successful Transition to the Next Generation

The generational transfer of any business is challenging, but we are seeing it in industry, technology, banking and agriculture, especially the swine industry.

 

 

Ag estate planning, leasing workshops scheduled for Panhandle in November

Series of workshops will provide helpful tools and strategies

 

Source: University of Nebraska-Lincoln

via Morning AgClips - Sep 19, 2022

 

 LINCOLN, Neb. ó Nebraska Extension and the Center for Agricultural Profitability at the University of Nebraska-Lincoln will host a series of workshops covering estate planning and agricultural land management and leasing in the Panhandle region between Monday, Nov. 7 and Wednesday, Nov. 9.

 

The estate planning workshops will offer tools and strategies to effectively plan, start and complete estate and transition plans, offer background on common mistakes during the process and highlight essential considerations for creating and carrying out estate and succession plans.

 

The estate and transition planning workshop schedule is (all Mountain time):

 

         Monday, Nov. 7, 8:30-11:30 a.m. in Chadron at the Dawes County Extension Office, 250 Main St., Suite 8 (register at 308-432-3373).

         Monday, Nov. 7, 1-4 p.m. in Rushville at the Sheridan County Extension Office, 800 Loffborrow St. (register at 308-327-2312)

         Tuesday, Nov. 8, 1-4 p.m. in Bridgeport at the Prairie Winds Community Center, 428 N. Main St. (register at 308-262-1022).

         Wednesday, Nov. 9, 2-5 p.m. in Ogallala at Mid Plains Community College, 512 E. B St. South (register at 308-360-1263).

 

Two additional workshops covering estate planning and land management issues for farm and ranch landlords and tenants will focus on equitable leasing strategies, landlord/tenant communication, pasture leasing, crop share leasing, cash rental rates and other land management updates.

 

The leasing considerations workshop schedule is (all Mountain time):

 

more

https://www.morningagclips.com/ag-estate-planning-leasing-workshops-scheduled-for-panhandle-in-november/

 

 

How to Make a Successful Transition to the Next Generation

 

By Steve Malakowsky, Opinion, FarmJournal's Pork

September 20, 2022

 

September marks my 25th year working for Compeer Financial and its predecessors. One constant over that time has been the continuous change. We have new and better technology in all aspects of our life. The people we work with change, as individuals find new jobs or retire along the way. But the most important change I have witnessed is the next generation of producers making their mark. The generational transfer of any business is challenging, but we are seeing it in industry, technology, banking and agriculture, especially the swine industry.

 

New Factors to Consider

 

It's every parentís dream to build a lasting legacy for their children and provide them the opportunity to step in and grow the family farm. I believe that transition was much easier a generation or more ago, as families handed down the farm and a new generation took over. Today, we have seen the success of those farmers that made it through the Ď80s and aggressively grew their farms into thriving businesses.

 

Most farming operations today have new factors to consider that they didnít have to address when they started. Most hog farms have from several to hundreds of employees who could be impacted by generational transfer of the business. When the previous generation started, they could take risks and if they made a mistake, they only had to look in the mirror to find the culprit. Imagine putting yourself into the next generationís shoes now. One mistake could severely impact the financial performance of the business, which could have a lasting impact on your employees and your retirement.

 

Is the Next Generation on Board? ...

 

Look Out for Your Best Interest, Too ...†

 

more

https://www.porkbusiness.com/opinion/how-make-successful-transition-next-generation