Completed Project Report


Farm Transition and Estate Planning: Create Your Farm Legacy Retreats and Interactive Workshops

  • Award Amount: $50,000
  • Regional Center: North Central Extension Risk Management Education Center
  • Grant Program: 2019 Education Projects
  • Project Director: C. Robert Holcomb
  • Email: holcombr@umn.edu
  • Organization: University of Minnesota Extension

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Project Overview

University of Minnesota Extension’s Agricultural Business Management Team, in partnership with the Minnesota State College and University System’s Farm Business Management program, hosted 12 farm transition workshops and one retreat to assist farmers transition their farm business to the next generation.  This partnership, which reached 215 participants, sought to create a more comprehensive, updated farm transition curriculum to reach all areas of Minnesota.

The educational programming focused primarily on mitigation of human risk during the transition process, helping farmers understand effective business communication strategies to ensure business continuity and healthy family relationships. Materials also focused on financial and legal risk concepts. Reduced net farm profit in 2019 and Covid-19 in 2020 presented new challenges for farm families preparing for transition and estate planning, but our materials prepared families to have frank conversations about their business, as well as provided participants with additional resources to reach out to for more assistance and information. These included additional resources from project collaborators Minnesota Department of Agriculture and SCORE, a volunteer business mentorship program.

Number of Participants: 215

Results

Project Steps

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