Oct 17, 2017NDSU to host succession planning workshops
North Dakota State University Extension will offer Design Your Succession Plan (DYSP) workshops at a variety of locations throughout the state in the next several months. The curriculum includes a module developed specifically for those considering transitioning away from full-time farming or ranching.
“Preparing the next generation to weather this uncertain environment is an important part of these potential retirements and important to the future farm/ranch legacy,” said Carrie Johnson, the North Dakota State University Extension Service’s personal and family finance specialist.
“Very often, the two or more generations already are working together but have not yet taken the steps toward succession planning,” Johnson said. “It is often one of those things all parties know they should be doing, but they just haven’t gotten around to it, or they don’t know where or how to start.”
DYSP workshops help farm families think about what they want for their business, explore the options and consider the consequences of each option before making any decisions. Some may wish to transfer a viable business to the next generation. Others may wish to divide the farm assets and want to determine an acceptable way to do that.
“Family farms and ranches are the family legacy,” Johnson said. “DYSP workshops give the owner and his/her identified successor generation an opportunity to begin shaping the future ownership of the family farm or ranch.”
DYSP workshop participants learn how to start and sustain those discussions and get started on developing a succession plan. They also learn about choosing and preparing to work with legal and financial professionals who will help make sure the plan is workable.
Locations, dates and times of upcoming DYSP workshops are listed below, along with contact information for the Extension agents who can provide more information and details:
Mandan – Nov. 21, Nov. 28 and Dec. 5, 6 p.m., Farm Credit Services, 1600 Old Red Trail Road; Marissa Leier, 701-667-3340, [email protected]
New Salem – Nov. 21, Nov. 28 and Dec. 5, Morton County Fairgrounds; Rick Schmidt, 701-794-8748, [email protected]
Watford City – Nov. 28, Nov. 30 and Dec. 7, 1:30 p.m., McKenzie County Courthouse, 201 5th St. N.W.; Marcia Hellandsaas, 701-444-3451, [email protected]
Langdon – Nov. 30 and Dec. 5, Cavalier County Courthouse, 901 3rd St.; Anitha Chirumamilla, 701-256-2560, [email protected]
Belfield – Dec. 5, 7 and 12, 5:30 p.m., Choice Financial, 201 Main St. N.; Ashley Ueckert, 701-872-4332, [email protected]
Linton – Dec. 6 and 13, 6 p.m., Emmons County Courthouse, 100 4th St. N.W.; Kelsie Egeland, 701-254-4811, [email protected]
Towner – Jan. 16, 18 and 22, 2018, 5:30 p.m., 314 Main St. S.; Callie Johnson, 701-537-5405, [email protected]
LaMoure – Jan. 23, 25 and 30, 2018, 200 Highway 13 W.; Julianne Racine, 701-883-6085, [email protected]
More locations will be added in the coming months. Visit www.ag.ndsu.edu/succession for more information.
