A Few Spots Left for “Passing the Torch” Transition Planning Workshop on Nov. 20

Take a Look at What We Have Planned

It’s never too early or too late to start thinking about “passing the torch” and finding someone in line to transition ownership of your dairy business. Even if you don’t have a specific family member in line to take over the business, your kids are still young, or you’re approaching retirement and don’t have a plan yet, this interactive workshop is ideal for dairy farm families in any situation. At the “Passing the Torch” Interactive Transition Planning Workshop on November 20, you’ll learn about your options and get family members communicating about your business’s next steps. 

There are a few spots left for the workshop. Here’s a sneak peek at what our speakers have planned:

• Changing the words we use can dramatically improve our relationships. You’ll hear specific examples of phrases many dairy farm families use and ideas for how to subtly change the wording to improve communication.
• Adjusting your approach to criticism. Learn tangible strategies for how to express anger, disappointment and concern with your team/family in a constructive way.
• Working with a team. President Woodrow Wilson said, “I not only use all the brains I have, but all I can borrow.” Learn how to utilize the power of collaboration with family members and other farm advisors whenever possible to formulate creative, farm-specific solutions.
• Understanding federal estate and gift taxes, PA inheritance taxes, income taxes and more. Figure out what you need to know from a legal perspective directly from a leader in this field.
• Breaking down entity planning and elder law planning. Learn about the latest planning techniques and what types of things you should have in writing.

Hosted by Penn State Extension and the Center for Dairy Excellence, we are keeping costs low for families. The day-long workshop is $25 for the first two family members and $5 for each additional family member, with lunch included. Keep reading for more details and sign up today!

Sign Up for the Workshop on Nov. 20

Workshop Details

Maybe your kids are only in high school or college, and you’re not ready to pass the torch quite yet. Maybe you don’t have a family member interested in taking over your dairy enterprise. Maybe you’re just starting to think about retirement. Maybe you’re nearing retirement and haven’t thought about your succession plan at all. No matter what situation or stage you’re in, it’s never too early or too late to start thinking about “passing the torch” and finding someone in line to transition ownership of your dairy business. 

When: Monday, November 20 from 8:30 a.m. to 3:30 p.m.

Where: Mechanicsburg, PA – Strock Enterprises, Inc.

Cost: $25 for the first two family members and $5 for each additional family member. Your entire family is encouraged to attend. Click here to sign up today.

What you’ll learn: This interactive workshop will get everyone in your family around the table for one-on-one coaching with facilitators, legal experts, accountants and more. Learn about:

• The overall transition process and key communication tips
• The retirement planning process
• The legal transition process
• The accounting transition process

What you’ll go home with:
You’ll participate in one-on-one, interactive family roundtable discussions that are led by outside advisors to keep the process moving in a productive way. You’ll walk away with a workbook and tangible next steps for taking action.