IFB, COUNTRY hosting farm legacy seminars

By Ashley Rice

Illinois Farm Bureau and COUNTRY Financial are partnering to host three farm legacy seminars across the state in February.

The seminars will provide farm families with information and questions that are essential to legacy planning, in order to allow them to keep their farm in the family.

Illinois family farm native, Ron Hanson, Ph.D., University of Nebraska-Lincoln Harlan Agribusiness Professor Emeritus, will be the keynote speaker.

An expert on farm legacy planning, Hanson has worked with farm families for more than 40 years in addition to his 46-year agribusiness and student-advising career.

The seminar details are as follows:

* Feb. 25 at 5 p.m., Hickory Grove Banquet and Conference Center, Rochelle;

* Feb. 26 at 5 p.m., I Hotel and Conference Center, Champaign; and

* Feb. 27 at 5 p.m., Kokopelli Golf Club, Marion.

During an interview with the RFD Radio Network, Hanson shared some of the questions he encourages farm families to consider: “What are the long-term goals (of the farm)? How will the farm transition from this generation to the next? Who do you want to take over, own or manage the farming operation? Is there someone in the family who will never own the farm? How do we treat all children equitably?”

Hanson noted that family relationships and farms often break down because family members fail to talk about working expectations and have no exit plan in place.

Legacy planning includes having open communication within the family, including all children, even those not working on the farm. “The ‘what-if’ usually happens when you least expect it,” Hanson told FarmWeek. “If you don’t tell your children your plans and wishes now, who will?”

Additional speakers at the seminars will include Richard Guebert Jr., IFB president and Brian Duncan, IFB vice president. COUNTRY speakers include financial specialists David Gallico, Kris Kline and Derek Dickinson.

Registration will open Jan. 1, but interested families can sign up for additional information and reminders here.

Content for this story was provided by FarmWeekNow.com.