Completed Project Report

Farm Transition Planning - You Can Do It

  • Award Amount: $25,000
  • Regional Center: North Central Extension Risk Management Education Center
  • Grant Program: 2008 Competitive Grant Program
  • Project Director: Dale Nordquist
  • Email: dnord@umn.edu
  • Organization: Center for Farm Financial Mgmt, University of Minnesota

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Project Overview

This project assembled a national team of farm transition planning experts to develop a comprehensive online transition planning tool. AgTransitions provides a resource for farm families to develop a detailed transition plan from their own farm office.

Transition planning workshops have been very successful, but when families go home, they can be overwhelmed by the complexities. AgTransitions provides a take-home tool to implement what they learned. It includes a transition plan outline, comprehensive tips on what to include, worksheets, and web resources for each planning section. They can also designate reviewers who can comment, edit, and interact with the family.

Participants use AgTransitions to develop individual, family, and business goals; inventory resources; analyze transition strategies; evaluate retirement plans; and assemble information for estate planning. Families that use AgTransitions are in a better position to succeed as a result of improved planning and intergenerational communication.

Number of Participants: 104

Outcomes

Project Steps

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