About the Program
The first step is the hardest. Creating a succession plan takes time, effort, family communication and working with professionals. Design Your Succession Plan will help you explore what you want for your business, how to discuss it in the family and how to get started creating a succession plan. It also will help you choose and prepare to work with professionals who will make the plan legal and viable.
This program will explore the four components of succession planning: planning for your business, retirement, transition and estate.
You will be prepared to communicate, write, plan, vision and shape the legacy of your family farm/ranch business, as well as save hundreds of dollars by completing these crucial planning steps before visiting with professionals.
You will receive a resource binder and a workbook to use during and after the sessions. Starting the workbook during class will give you a jumpstart on your succession plan. When you leave the program, you will be motivated to continue communicating and working on the family farm/ranch legacy.
Who should attend?
This program is for families who want to shape the future ownership of their family farm or ranch – the family legacy – whether that is transferring a viable business to the next generation or determining how to divide farm/ranch assets.
Even if you have attended other transition, estate, or succession planning classes, consider attending this program to get a start on your succession plan.
Program Dates
Attendees should plan to attend all sessions: November 1 and 8.
Cost
Fees for this workshop are structured to encourage family members to participate together. The registration fee of $175 for the first family member covers the cost of meeting expenses and includes a resource binder and workbook. Additional family members from the same operation may attend for $50 each which includes a workbook. Additional resource binders may be purchased for $75 each.
Source: ndsu.edu
Photo Credit: getty-images-elhenyo
Categories: North Dakota, Business