AgTransitions is an online tool developed by the University of Minnesota Center for Farm Financial Management. On this site, you create an account and then are able to access a step-by-step guide that will walk you through all the aspects of planning for the future of your farm. The tool asks questions, you type in the answers, and then it saves them in your account. That way you can tackle this process bit by bit. The site also provides tips, resources and online assistance.
Beginning Farmer Center – Iowa
The Beginning Farmer Center at Iowa State University has developed a number of publications and webinars that address issues related to farm transition, succession and estate planning. On this website you will find a series of links to definitions and descriptions of terms, presentations on various aspects of farm transfers, and webinars.
Transferring the Farm Video Series
The University of Vermont has developed a great series of videos (over 20) that explore and explain various aspects of retirement, estate, and farm transition planning. The first videos in the series are case studies of family farms who have gone through transitions. The remaining videos cover planning or retirement, estate planning, tax considerations, and family considerations.
Farm Transfer Network of New England
The Farm Transfer Network is a network of organizations and professionals in New England that offer special expertise in farm transfer and succession. Its resource page includes links to information on Farm Business Planning, Farm Transfer Planning, Case Studies, Legal Topics and Business Structures, and other useful topics. While focused on New England, most of the information is useful to Midwestern farmers.
Transition Planning for Your Business
This is a six-part webinar series presented by John Baker of the Beginning Farmer Center at Iowa State and Dave Goeller of the North Center Risk Management Center at the University of Nebraska. The modules include: Introduction, What is Important, Communications, Planning for Retirement, Estate Planning for Succession and Transfer planning. The entire series is about 3 hours long. The website also includes a resources button that links to downloadable worksheets on farm transitions.
The Center for Farm Financial Management through the University of Minnesota has an extensive list of publications. You can access all their publications through their website:www.cffm.umn.edu – click on the Publications tab on the far right, and select the Farm Management category. CAUTION: these publications are offered as educational information, and do NOT offer legal advice. If you have any questions on the information, contact an attorney.