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Transition Planning Seminar

Date: 
Location: 
Various locations in Minnesota, Wisconsin and Illinois,
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DATES & LOCATIONS

Wisconsin Dells, WI

Tuesday, January 28 | 8:30 a.m. – 3:30 p.m. | Kalahari Resort

1305 Kalahari Dr., Wisconsin Dells, WI

Peoria, IL

Tuesday, February 4 | 8:30 a.m. – 3:30 p.m. | Par-A-Dice Hotel and Casino

21 Blackjack Blvd., East Peoria, IL

Mankato, MN

Tuesday, February 11 | 8:30 a.m. – 3:30 p.m. | Country Inn and Suites

1900 Premier Dr., Mankato, MN

Cost- $50 per farm operation


WHAT TO EXPECT

If your New Year’s resolution includes dreams of a finished transition plan for your farm, join Compeer Financial® for a seminar to begin turning that dream into a reality. This seminar will help you design a plan that works for you and connect you with the resources to put it into action. A member of each stakeholder generation should attend to get the most out of the program.

The day begins by creating a shared understanding of the future of your farm and moves into breakout sessions with content tailored to each generation. At the end of the day you’ll develop your next steps, including the opportunity to set an initial appointment with one of our vetted transition planning professionals. Plus, you’ll have exclusive access to our new online cohort program to keep the momentum going as you work through the stages of transition planning.


AGENDA

8:30 – 9:00 a.m. | Registration

9:00 – 9:50 a.m. | Agriculture Strategy

Bulletproof Your Farm | Speaker: Andy Junkin

Andy Junkin’s parents divorced after his father bought a manure spreader (really!) and he’s been turning cruddy situations around ever since.    Over the past decade he has developed a completely different approach to farm management which looks at radically improving HOW farm families make decisions together. 

10:00 – 11:00 a.m. | Farm Financial Strategies and Next Generation Ag Advocates

Farm Succession: The Perfect Storm | Speaker: Steve Bohr

Steve Bohr (Lisbon, IA) started his 27-year career in financial services with First Financial Center in 1992. In 1994 Steve started Farm Financial Strategies.

Steve is the past president of the Cedar Rapids Association of Insurance and Financial Advisors. He graduated Magna Cum Laude from Coe College in 1992 with a double major in Business Administration and Economics and a minor in Math where he received the Laverne Marie Tucker and the Harley W. Howell Prize in Economics.

In addition to being involved with his church and Coe College, Steve is active on the family farm in southeast Iowa. He and his wife, Jennifer, reside in Swisher, Iowa and are the proud parents of a 20-year-old son, Brody, and 17-year-old twins, Baxter and Ayva.
 

Note: Each breakout session is specifically designed with content for the current owner generation, incoming generations or for everyone.  Each session's focus is noted below.  It is suggested for attendees to go to sessions designed for their current role in the farm or everyone.

11:00 – 11:45 a.m. | Breakout Session 1

Owner Generation - Fair vs. Equal

As the current owners of your farm, it's a difficult and complex task to decide how you want your assets to be divided among heirs.  In this session you'll learn how fair and equal aren't always the same and how you can begin the process of determining what will work for your farm.

Owner Generation - Business Profitability for the Future

Your farm has provided for your family for a long time, maybe generations.  Join this session to learn how you determine what your farm can support as you look to bring in additional family members.

Incoming Generations - Transitioning Farm Tasks

Taking on more responsibility on the farm isn't always as simple as it seems.  In this session you'll gain valuable insights into how you can begin to transition responsibility on the farm with fewer headaches and less tension.

Everyone - Tax Planning

Farm asset transfer has many tax implications.  In this breakout you'll learn about the options and how your decisions will impact taxes for any generation.

12:00 – 12:45 p.m. | Lunch

12:45 – 1:30 p.m. | Breakout Session 2

Owner Generation - Rules for Entering the Business

When bringing new generations into the business with various levels of responsibility it's important to be clear on what expectations accompany those responsibilities.  In this breakout, you'll learn how to create and communicate ground rules for those increasing their involvement with operation management.

Incoming Generation - Fair vs. Equal

Understanding why the current owner generation is making asset division decisions is complicated.  Join this session to gain a better understanding for the process they are going through to sort everything out and how to constructively share your point of view.

Incoming Generation - Retirement Planning

For several generations, retirement planning on a farm has consisted of relying on the long term assets of the farm to provide an income for retirement.  Times are changing and that isn't always a safe way to plan for retirement.  In this session you'll learn other ways you can help ensure a successful retirement is in your future.

Everyone - Successful Communication Tips

The most common complication in transition planning comes down to communication, or a lack of it.  Join this session to leave with concrete tips to help create an environment of proactive, constructive communications on your farm.

1:45 – 2:30 p.m. | Breakout Session 3

Owner Generation - Transitioning Farm Tasks

What does transitioning out of farm tasks look like to you?  Do you have a plan or are you taking it one day at a time?  In this breakout you'll learn how to develop a plan to transition tasks in a way that works for you and the farm's goals.

Incoming Generation - Business Profitability

As you work into becoming the farm's majority owner, it is critical to know what the financial status of the operation is and how the transition might impact that status.  Join this session to learn how to assess your operation for financial strength through change.

Everyone - Family Meetings

Formalized family meetings can help an operation run smoothly day to day and increase everyone's understanding of the long-term goals.  However, it isn't always as simple as it sounds.  In this session you'll gain tools to create a successful family meeting plan.

Everyone - Non-Family Relationships

A farm with multiple stakeholder generations can be a complicated business to understand.  Add in some in-laws, neices, nephews, step-kids and more and you have the potential for a huge mess.  You'll leave this session with tips on how to think through those relationships and what they mean to the farm operation today and tomorrow.

2:45 – 3:30 p.m. | Putting It All Together & Closing

In this closing session you'll be guided through next steps to keep your transition planning process moving.  Vetted transition planning professionals will have time available for you to book one-on-one appointments and you can opt-in to our online cohort program.

Space is limited.  Register now to reserve your family's place. Register Today.