A majority of farm families have not named a business successor nor developed an up-to-date farm business transition and estate plan. This program effort was designed to enable farm families to gain a better understanding of the process required and thus develop and implement a farm transition and estate plan. In terms of improving understanding, the workshops were highly successful with most of the 800 participants indicating their understanding of the main educational points of the workshop improved due to attending the workshop. Almost all indicated they better understood the need for clear goals and communication between genders and generations. Over 90% said they better understood transfer strategies and the importance of assessing the financial strength of the farm business. In addition, 90% said they had improved understanding of estate planning issues as part of the process. Eighty-seven percent said they had improved understanding of tax issues related to farm transfer. While 71.9% of participants did not have an up-to-date estate plan and 85% did not have an up-to-date farm business transfer plan, 98% stated that because they attended the workshop, they would begin the farm transfer process this year. This program is an example of a strong creative team and collaborative approach to curriculum design, marketing and program delivery. A unique marketing technique referred to as the “sponsorship model” was utilized to publicize the program to potential sponsors. This is a departure from traditional program marketing approaches.
|Conference||2008 National Women in Agriculture Educators Conference|
|Presentation Type||30-Minute Concurrent|