Farm Business Succession Planning

Date: November 3, 2015 - November 5, 2015
Time: Nov. 3 and 5, 1:30 - 3 p.m. and 6 - 7:30 p.m.
Location: Michaywe Club House, 1535 Opal Lake Road, Gaylord, MI 49735
Contact: Curtis Talley or Kathy Walicki, 231-873-2129

In an effort to reach farmers from near and far, identical 1.5 hour workshops will be held at four different times. Business owners will learn to begin planning the transitioning of the farm business to a family successor, or transitioning the property to a non – family successor. Actual farm family cases will be used so participants learn the issues other families face and how they handled them. Topics include evaluating the financial health of the current operation and owners, communicating goals, how to determine if the business is financially viable enough to take on a new partner, building and implementing a plan, evaluating what is fair for the successor(s) versus what is equal, different business arrangements and how to effectively work with a qualified attorney.

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