Farm/Ranch Transition When You Aren’t In Control
The “Sandwich Generation” are adult on-ranch successors who do not own the land, but came back as laborers or day-to-day managers of their parents’ operation. This generation faces the greatest transition risk. “Ranch Transition When You Aren’t In Control” was an intense effort by Nebraska Extension to walk families through the landmines of ranch transition, focused on those who do not hold the purse strings.
Topics included communication, strategies for transition, and legal considerations. 88% of respondents remarked positively about the workshop.
The biggest gain of understanding revolved around the process and planning of estate planning best suited for ranch transition (p<0.05).
The second biggest gain of understanding was communication skills and confidence (p<0.05). 94% reported they started a conversation about the future of the family ranch; ranging from “it brought three generations into a meeting” to “they basically told me I am out”.
Learned to calculate compensation for unpaid services and their contribution to the ranch's growth, and how to transfer management (p<0.05).
73% remarked they had met with legal or financial counsel, and 11% planned to. Additionally, 29% directly mentioned utilizing one-on-one consultation for their legal and financial counsel.
The older (landowner) generation also attended the workshops. As one participants said, the workshop was “fantastic for all generations.” Another stated, “I wish that they would have had a workshop like this for my parents.”
In this session, Extension professionals will learn about the challenges and rewards of learning from working with the “Sandwich Generation”.
|Conference||2018 Extension Risk Management Education National Conference|
|Presentation Type||30-Minute Concurrent|