Nd farm ranch transition oveview fall conference 2012
Transcript of Nd farm ranch transition oveview fall conference 2012
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ND Farm/Ranch Transition EducationA Quick Review
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Annie’s Participants requested more information on:Crop and Livestock MarketingRecord Keeping SystemsFarm/Ranch Transition PlanningRetirement Planning
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Overall objectives; Participants willGain a better understanding of the
importance of transition planning & improve their communication skills for this process
Learn on many tool, resources & expertise that will be useful for them to utilize
Gain the confidence & the desire to begin/improve a transition plan for their farm/ranch business.
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Farm/Ranch Transition & Estate PlanningPatterned somewhat after Missouri model Pilot project in 2010
Six sites Delivery & resources
IVN Local experts Note book of resource materials Web sites
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Progress to dateOffered five times since it was launched
March 2010Dec 2010March 2011Dec 2011March 2012
Offered in over 30 location throughout the state
800 people have participated
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Grand Forks
Cass
Richland
SargentDickey
Ransom
McIntosh
Logan
StutsmanBarnes
Foster
Benson
Ramsey
Towner
CavalierBottineau
McHenry
WardMountrail
McLean
Williams
McKenzie
Golden Valley Stark
Dunn
MortonBurleigh
Grant
Mercer
Farm/Ranch Transition Planning March 2010 – March
2012
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Planning ProcessSteering committeeIn-service training sessions
Spring (daylong) Evaluation & next year’s initial site selection
Fall ( over two days) Details for upcoming sessions
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Use of Web Sitewww.ag.ndsu.edu/anniespro
ject
Annie’s ProjectFarm/Ranch Transition Planning
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FormatThee sessions each 3 hours long40% content delivered via IVN40% content delivered via local experts20% interactive discussion, activitiesRegistration fee $55 - $75Major topics
CommunicationSuccession Planning &Asset Transfer
StrategiesBusiness arrangements, shaping your legacy
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IVN PresentationsGetting Started; Importance of
CommunicationFarm Estate & Succession Planning; tax &
economic consequences of asset transfer strategies
Farm Business Arrangements; shaping your legacy
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Local PresentersAttorneysCPA’sJudgesCertified Financial PlannersOthers
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Online Resources Introducedhttps://www.agtransitions.umn.edu/
http://rightrisk.org/
http://www.ces.purdue.edu/farmtransfer/
http://www.ag.ndsu.edu/ndestateplanning
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Financial OverviewNo Extension staff receive additional $$ for
being involved in the projectNon Extension presenters receive
honorariumsNo major sponsorsRegistration fees - $55 for individual; ($15 EACH for spouses /others up to 2
additional)Additional $25.00 for late registrations
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Financial Overview (Continued)All revenues from registrations sent to
central location.Counties receive reimbursement for:
Local speaker honorariums Refreshments Room rent
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What participants have said“Overall, very educational, thanks”
“Not one presenter was trying to sell us anything. We got factual information from reputable sources”
“It is a topic that is difficult to know where to begin & this gave lots of information about it and insight into what needs to be done”
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For 2012/2013Focus primarily on Farm/Ranch Transition13 sites scheduled for Fall (Nov 29, Dec 6 & Dec 13
Ashley, Beach, Carrington, Carson, Center, Crosby, Hettinger, Killdeer, Mandan, Mott, Napoleon, Wahpeton, Williston
11 sites (to date) scheduled for Spring (Feb 9, 16, 23, 2012)
Dickinson, Fargo, Forman, Grand Forks, Valley City
Registration fees remains the same
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Registration processRegistration via brochures
Online registration also available
No registration by phone
Not registered until $$ has been received
Late fees apply after deadlines