February 08, 2023

Purdue Extension planning virtual workshops on handling succession during uncertain times

HUNTINGTON, Ind. — The Purdue Extension Succession Planning Team will offer a virtual series of workshops on “Keeping the Farm Resilient in Uncertain Times.”

Edward Farris, the Purdue Extension director for Huntington County, said the workshops will take place over a time period of three weeks and will be held on Monday evenings, starting Feb. 8. Each series will focus on different topics and a wide range of presentations.

The first workshop will focus on helping individuals make sure they have plans in place for uncertain times, including looking at their financial situation to see if it is ready for succession or to bring another person into the operation.

The second session, scheduled for Feb. 15, will feature an attorney who will discuss how people need to make sure they are set up properly to protect assets, setting goals and making sure the proper risk management strategies are in place. The final workshop on Feb. 22 will focus on conflict.

Farris said the biggest issue during farm successions is usually the lack of communication among those involved.

“It’s never too early to start planning,” Farris said.

For more information or to register for the workshops, visit tinyurl.com/PU-SP2021.

Ashley Estes

Ashley Langreck

Field Editor