ND Farm/Ranch Transition EducationA Quick Review

Annie’s Participants requested more information on:Crop and Livestock MarketingRecord Keeping SystemsFarm/Ranch Transition PlanningRetirement Planning

Overall objectives; Participants willGain a better understanding of the

importance of transition planning & improve their communication skills for this process

Learn on many tool, resources & expertise that will be useful for them to utilize

Gain the confidence & the desire to begin/improve a transition plan for their farm/ranch business.

Farm/Ranch Transition & Estate PlanningPatterned somewhat after Missouri model Pilot project in 2010

Six sites Delivery & resources

IVN Local experts Note book of resource materials Web sites

Progress to dateOffered five times since it was launched

March 2010Dec 2010March 2011Dec 2011March 2012

Offered in over 30 location throughout the state

800 people have participated

Grand Forks

Cass

Richland

SargentDickey

Ransom

McIntosh

Logan

StutsmanBarnes

Foster

Benson

Ramsey

Towner

CavalierBottineau

McHenry

WardMountrail

McLean

Williams

McKenzie

Golden Valley Stark

Dunn

MortonBurleigh

Grant

Mercer

Farm/Ranch Transition Planning March 2010 – March

2012

Planning ProcessSteering committeeIn-service training sessions

Spring (daylong) Evaluation & next year’s initial site selection

Fall ( over two days) Details for upcoming sessions

Use of Web Sitewww.ag.ndsu.edu/anniespro

ject

Annie’s ProjectFarm/Ranch Transition Planning

FormatThee sessions each 3 hours long40% content delivered via IVN40% content delivered via local experts20% interactive discussion, activitiesRegistration fee $55 - $75Major topics

CommunicationSuccession Planning &Asset Transfer

StrategiesBusiness arrangements, shaping your legacy

IVN PresentationsGetting Started; Importance of

CommunicationFarm Estate & Succession Planning; tax &

economic consequences of asset transfer strategies

Farm Business Arrangements; shaping your legacy

Local PresentersAttorneysCPA’sJudgesCertified Financial PlannersOthers

Online Resources Introducedhttps://www.agtransitions.umn.edu/

http://rightrisk.org/

http://www.ces.purdue.edu/farmtransfer/

http://www.ag.ndsu.edu/ndestateplanning

Financial OverviewNo Extension staff receive additional $$ for

being involved in the projectNon Extension presenters receive

honorariumsNo major sponsorsRegistration fees - $55 for individual; ($15 EACH for spouses /others up to 2

additional)Additional $25.00 for late registrations

Financial Overview (Continued)All revenues from registrations sent to

central location.Counties receive reimbursement for:

Local speaker honorariums Refreshments Room rent

What participants have said“Overall, very educational, thanks”

“Not one presenter was trying to sell us anything. We got factual information from reputable sources”

“It is a topic that is difficult to know where to begin & this gave lots of information about it and insight into what needs to be done”

For 2012/2013Focus primarily on Farm/Ranch Transition13 sites scheduled for Fall (Nov 29, Dec 6 & Dec 13

Ashley, Beach, Carrington, Carson, Center, Crosby, Hettinger, Killdeer, Mandan, Mott, Napoleon, Wahpeton, Williston

11 sites (to date) scheduled for Spring (Feb 9, 16, 23, 2012)

Dickinson, Fargo, Forman, Grand Forks, Valley City

Registration fees remains the same

Registration processRegistration via brochures

Online registration also available

No registration by phone

Not registered until $$ has been received

Late fees apply after deadlines