Planning is one of the most critical functions of management. Planning decisions can range from the short term of addressing the everyday “fires” of the farm business to long range planning for retirement, transition and estate planning. One area in which many farmers feel uncomfortable planning for is the future of the farm without them. As farmers plan for the long term success of their business, there are a myriad of decisions to be made. Some of the questions that often arise include: Who will manage the business in the future? How much money will I need to make it through retirement? How do I treat each offspring fairly when it comes to dividing up our farm? How will I know if my kids are ready to take over the farm? What are the legal hoops that need to be jumped through to pass the farm on without hurting the financial standing of the farm? How can we plan so the farm will be profitable for multiple generations? Is there enough equity in the farm that I can retire without selling out?
OSU Extension is pleased to announce that four “Building For the Successful Transition of Your Agricultural Business” workshops will be held across the State of Ohio during January, February, and March 2007. Each of these two-day workshops is designed to help family businesses develop a transition plan for their family business. The sessions will challenge you to examine your business to the core and to actively plan for the future. These sessions will help farm families come together to develop a plan for the farm’s future, discover ways to increase family communication, plan for retirement, and learn strategies for transferring management skills and the farm’s assets from one generation to the next. These workshops are made possible by a grant received from the North Central Risk Management Education Center. 
The first workshop session at each location will help all members of the family business analyze the current status of the business, determine where the business is going, and plan for the future. Participants will learn how responsibilities can be shared between generations and how the new generation of managers can be developed. Participants will examine the strengths, weaknesses, opportunities and threats to their business and will develop a shared vision for the future. This workshop session will challenge family members to honestly communicate with one another when planning for the future. Dr. Bernie Erven, Professor Emeritus from The Ohio State University, will be the keynote speaker for this session.
The second workshop session will feature the nuts and bolts of transferring a family business from one generation to the next. This workshop will allow participants to learn more about business organization structures and strategies, how to treat on-farm and off farm heirs, how to equitably transfer assets, how to plan for adequate retirement income, and how buy-sell agreements, trusts, and life insurance can be utilized in succession planning. Dr. Paul Wright and Robert Moore from Wright Law Co. LPA in Dublin, Ohio will be keynote speakers for the second workshop.
The program dates and locations are:
January 23 & 24 (Carroll County)
Carrollton Days-Inn
1111 Canton Road
Carrollton, Ohio 44615
Local Contact: Mike Hogan (330-627-4310)
January 25 & February 7 (Henry County)
Northwest State Community College
22600 State Route 34
Archbold, Ohio 43502
Local Contact: Greg Labarge (419-337-9210)
February 26 & 27 (Pickaway County)
Deer Creek Resort & Conference Center
22300 State Park Road 20
Mt Sterling, Ohio 43143
Local Contact: Mike Estadt (740-474-7534)
February 27 & March 6 (Marion County)
All Occasion Catering
6989 Waldo Delaware Road
Waldo, Ohio 43356
Local Contact: Steve Ruhl (419-947-1070)
All sessions will be held from 9:00 a.m. to 4:30 pm. A special evening program is being developed for the sessions in Carroll and Pickaway Counties. The registration fee for attending the two-day workshop will be $75 for the first member of a family and $50 for each additional family member attending. Registration includes workshop notebook, refreshments and lunch for both sessions. Registration is due 10 days prior to the first session at each location.
Local information can be obtained by contacting the local host (see numbers listed above). Registration and hotel details can also be found at: http://ohioagmanager.osu.edu/calendar/RME-2006.php