Succession Planning for Farm Families

You know you want your farm to continue in your family, but how?

Maybe you’re the parent in a multi-generational farm and you’re trying to figure out if you can really afford to retire and not have an active role on the farm any longer. Is that possible?

Maybe you’re of the younger generation that has entered into the farm operation recently and you want to make sure you’re doing everything you can now so that you can pass the farm onto your own children someday.

Thinking about the financial and legal planning it might take for a successful succession can be pretty stressful. You’re not alone. We’ve been hearing from farmers across the state that this is an issue that keeps you up at night.

To help you explore what’s possible for your family and farm’s future, Ohio Corn & Wheat is hosting programs across the state this winter, with experts who regularly work with farm families across Ohio. You won’t have to share anything specific about your operation or family. Our speakers will give you a lot of ideas to think about and lay out options that you can begin considering and then discuss with your family and your attorney and your financial team.

Childcare is available on-site. Each program is identical, so choose the day/location that works best for you. And the best part – there’s no cost to you!

 

Saturday, January 20, 2024
9:00am-1:00pm
Ottawa Knights of Columbus Hall, Ottawa
***Online registration for the Ottawa event is now closed. If you’d still like to register, please call Marlene Eick at (614) 570-7589.***

Saturday, February 10, 2024
9:00am-1:00pm
St. Michael Hall, Fort Loramie
***Online registration for the Fort Loramie event is now closed. If you’d still like to register, please call Marlene Eick at (614) 570-7589.***

Saturday, March 16, 2024
9:00am-1:00pm
Roberts Centre, Wilmington

Click Here to Register!

Agenda

9:00-9:15am           Welcome

9:15-11:30am         Concurrent breakout rooms

11:30am-12:00pm  Wrap-up

12:00-1:00pm         Lunch

Hope is Not a Strategy: Retiring soon with a plan
Presented by: Ryan Conklin, Wright & Moore Law Co., and Larry Boord, Lifetime Financial Growth

This breakout room is intended for generation getting ready for retirement. If you’re figuring out how to retire from farming but still have income, or how to transfer the farm to some or all of your children, or how to retire without a “retirement account” in place already, this session is for you. Ryan and Larry will share different factors to consider and the variety of options available, as well as give real-life scenarios that farm families like yours have used.

It’s All About Income: Setting up your financial foundation
Presented by: David Fisher, Lifetime Financial Growth

You’ve joined the family farm. Whether you and/or your spouse are full- or part-time on the farm, you need a strong foundation in place to make sure you can continue farming well into the future AND take care of your family – and maybe even retire someday! Tom will share the array of pathways available to farm families just like yours who have set up a strong financial foundation, so that, no matter how the farm is doing, the family is on good footing.