In a series of four detailed workshops held at two locations, participants were provided with tools for transferring management and assets to the next generation, and strategies to deal with financial implications in a volatile agriculture economy. The following risks were addressed: Financial (asset management, business and strategic planning, and financial records and analysis) and Human (health, stress and well-being, communication, family and business relationships, and transition planning).
As a result, ten Kansas farm and ranch (F&R) families have developed succession management skills and 21 Succession Facilitators have received advanced training in facilitating succession planning. The workshops were filmed for use on the succession website and as a template for future workshops by K-State Research and Extension (KSRE) and others.
The project has helped family units gain knowledge and develop strategies for transferring management and assets; a few families have used facilitation services; others have developed and implemented a succession plan on their own. While others are in process of doing so.