Completed Project Report


Estate and Transition Planning for Maryland Farm Families

  • Award Amount: $42,180
  • Regional Center: Northeast Extension Risk Management Education Center
  • Grant Program: 2018 Education Projects
  • Project Director: Paul Goeringer
  • Email: lgoering@umd.edu
  • Organization: Department of Agricultural and Resource Economics, University of Maryland

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Project Overview

The goal of this project was to gather and update the existing farm transition resources to develop of series of robust, interactive workshops to help Maryland farm families manage legal and financial risks associated with farm succession and transition planning.

These workshops covered a wide variety of topics associated with transition planning, including taxes, tools like trusts and wills, and communications skills. The workshops also included discussions, case studies, and worksheets to engage the participants more deeply.   Presenters also tried to create a comfortable atmosphere to discuss these difficult topics through humor, sharing personal stories, and encouraging participants to respond to others with empathy and understanding.

The team held seven workshops in Maryland and one in Delaware at the Women in Agriculture Conference. The team also led two webinars. The team wrote and updated eleven fact sheets and publications on different farm transition topics.

After attending the workshops, almost 90% of participants agreed and strongly agreed that transition planning was important to their farm. Over half of respondents reported holding a full or partial family meeting to discuss farm transition goals. About half of respondents reported either completing a transition plan or beginning to take steps toward completion.

Number of Participants: 120

Results

Project Steps

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EDUCATIONAL MATERIALS

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DELIVERY AREA

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