Agriculture Succession Planning

Agriculture Succession Planning

Is it time to transition the farm? Planning the transfer of your farm business, whether it is to a family member or an outside buyer, requires advanced work. Not only is there land, equipment, buildings and possibly livestock to consider, but your legacy as well.

Succession planning addresses concerns before they become major problems and, if it is a family farm, aims to bridge the gap between generations of farmers. A good succession plan will also assist in a smooth and financially efficient transition considering legalities, taxes and timelines.

The Basin Business Advisor Program’s Agriculture Succession Planning Workshop is designed to get farmers started on the process and provide a framework to move forward. There are many variables to consider and each case is unique. We will have resources to guide you and suggestions for when to consult professionals such as lawyers, accountants and insurance people.

This two-hour workshop is presented virtually by our Agriculture Specialist, Nyree Marsh and Program Manager, Alison Bjorkman. Be prepared to participate, it is an interactive workshop.

We will review:

  • preparing your farm business for sale;
  • tax, life and estate tips;
  • critical issues; and
  • settings goals.

Who can benefit:

  • farmers who are looking at transitioning their operation to the next generation
  • farmers who are looking at selling outside the family
  • farmers who are retiring
  • farmers who have an agricultural business perhaps without land attached
  • family members interested in entering the family farm operation

Workshop Cost: Free

There is no cost to attend but space is limited and pre-registration is required. This workshop is available to residents of the Columbia Basin. Not sure if you are in the region? Check out our map.

Workshop Delivery: Online

This workshop is delivered virtually using Zoom. You will need a Zoom account and access to a computer with video, sound, microphone and ideally a webcam. Learn about Zoom here.

An email will be sent to you with the Zoom link a day or so before the event. We have had a lot of emails go to people’s junk mail so check there if you haven’t received it. If you can’t find email and we’ll sort it out.

Workshop Date:

This is a 2-Hour workshop.

  • Next workshop date to be announced. Please feel free to contact our Agriculture Specialist, Nyree Marsh anytime about this topic by applying for services here.