What: Leaving a Lasting Legacy: Planning Your Estate and the Succession of Your Farm/Ranch
When: March 28, 10 – 3
Where: Northeastern 18 Golf Course, Sterling, Colorado
RSVP: 970-520-2330 or here
Colorado State University’s Agricultural and Business Management Economist Jeff Tranel will be leading a workshop in Sterling on March 28, 2019 to help local agricultural producers learn how to work through the transfer of their farms and ranches to the next generation and begin planning their estates. The event runs from 10 am – 3 pm at the Northeastern 18 and is hosted by Premier Farm Credit. All area producers are invited to attend, lunch is provided, and cost is $20/person or $15/person for groups of 3 or more. Premier Farm Credit customers attend for free, and you can RSVP to ensure your spot to 970-522-2330 or online at premieraca.com/event-rsvp.
“I understand the difficulties of talking with one’s family about such sensitive issues, selecting who takes over the farm or ranch business, and even thinking about one’s own mortality,” Tranel said. “But if we don’t plan for our families and businesses, someone else will do it for us – and it most likely won’t be what we would have wanted.”
This workshop will cover a variety of topics, including: strategies for keeping the farm or ranch in the family; the Four Pillars of a Lasting Legacy (values and life lessons, personal possessions of emotional value, final wishes and instructions, and real estate and finances); and family communications – parents talking and working with their children and children talking to their parents to understand Mom and Dad’s financial situation and desires for retirement and the future of the farm/ranch.
Jeff Tranel was raised on a purebred and commercial cow-calf operation in south central Wyoming and northwestern Colorado. He writes extensively about estate planning and succession planning, conducts numerous workshops, and facilitates farm and ranch families in their efforts to have agricultural business that spans several generations. Jeff has addressed more than 10,000 producers throughout the U.S. and in five countries.