Project Overview
As Indiana farm families face the issue of transferring the farm business to the next generation of operators, the need for information and resources in the area of business transfer and succession planning has become crucially important for the smooth transition of the business. "Planning for the Transfer of Farm Ownership and Management" workshops were conducted across Indiana to 87 farm family members at three regional locations and to 92 participants at the Midwest Women in Ag Conference in Merrillville, IN. Financial preparedness strategies for inter-generational transfers were shared by outlining balance sheet and income statement considerations. Transferring machinery and land to new owners was also a focus. Participants delved into the human resource aspects of managerial transition as well as risk management tools. The Purdue Succession Team assisted participants after the regional meetings to guide them through the development of a farm business transfer plan.
Number of Participants: 179
PROMOTIONAL MATERIALS
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EDUCATIONAL MATERIALS
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REPORTS & EVALUATIONS
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