On June 25th and 26th, a free transition-planning workshop titled, “What happens to the family farm?” will take place at the Hazel Ruby McQuain Equine Education and Resource Center in Reedsville, WV. The workshop will feature informative presentations, Q&A, and time for one-on-one meetings with financial and estate planning experts. There will be two speakers from 6-8pm on June 25th, followed by questions and discussion, and sign-ups for one-on-one meetings the following morning, Wednesday June 26th.
The speakers will be two experienced transition educators and advisors. David Marrison, an OSU Ag Extension Educator who specializes in farm succession, family communication, and retirement planning and John DuBois, a Land as Your Legacy certified Financial Advisor who works with the Ohio Farm Bureau assisting farm owning families to create succession plans, ensuring farms thrive for future generations. Both speakers have 30+ years of experience working directly with farmers to make plans to manage their future.
“The workshop is important,” says Shockey, an Extension agent and event organizer, “because unfortunately, 7 out of every 10 farms don’t have a transition plan in place. Without one, the state — not you —will decide how your farm or ranch is distributed.”
A Transition plan can help you:
- Preserve your legacy
- Safeguard the value created by your operation
- Set up an orderly transition of ownership and management
- Provide for financial basics
- Turn nonliquid assets into cash to cover taxes and expenses
- Identify and manage risks
Organizers hope the event will help farmers take the first step towards making a concrete plan. “A lot of folks know they need a plan, but aren’t sure where to start,” says Luckini, “We’re hoping that this event will help them not only understand the need for a plan, but empower them to get started.”
The workshop is being organized and sponsored by Preston County Extension, Nationwide’s Land As Your Legacy program, the WV Farm Bureau, and the Davis Insurance Group.
The event is free and pizza and refreshments will be provided. Attendees are encouraged to RSVP on the Facebook event page or by emailing organizer Katie Luckini at katie@insuremorgantown.com. Questions can be directed to Luckini at 304-588-1378 or Shockey at 304-329-1391.
Land As Your Legacy is a service mark of Nationwide Mutual Insurance Company. Davis Insurance Group, the workshop organizers and speakers are not affiliated with or employed by Nationwide.
The Hazel Ruby McQuain Equine Education and Resource Center is located at 155 WVU Reedsville Farm Road, Reedsville, WV 26374.
