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Family farm, ranch business succession planning classes in Lewiston on March 20, 23, and 28

University of Idaho Extension

University of Idaho Extension

— University of Idaho Extension presents “Keeping the Legacy Alive: Working Together for a Better Future” beginning March 20 in Lewiston. This is the last time this award-winning workshop for area farmers and ranchers will be offered.

“Keeping the Legacy Alive” will be offered in Lewiston on March 20, 23, and 28. This is presented by University of Idaho Extension, in cooperation with the Idaho Barley Commission and the Western Center for Risk Management Education.

It has been estimated that only about 36% of farmers and ranchers have an estate plan. Only 18% of farmers and ranchers report having a business succession plan. The USDA reports that less than 1 percent of farm businesses survive intact to the third generation. These statistics are alarmingly low considering the size of the assets at stake and even more so the difficulty of successfully moving the farm or ranch into the next generation.

  • Dave Specht, Certified Financial Planner and owner of The Family Businessman, is a nationally known consultant and planner. Dave and his wife and partner, Taneil, are co-authors of a book titled “The Family Business Whisperer.” Taneil will lead a workshop on Generational Family Business, assisted by Dave.
  • Pete Volk, Attorney-at-Law, a popular speaker from the first “Keeping the Legacy Alive” series, is back to talk about business structures and legal strategies for success.
  • Ken Hart, Kathee Tifft, and Karen Richel, all University of Idaho Extension Educators, along with Josh Huff, NW Farm Credit, will cover financing, retirement, financial planning, generational communication and management transfer.

Farmers, ranchers and their families will be encouraged and will build skills to start to improve their farm business transition plans.

The workshop is funded by a grant from the Western Center for Risk Management Education/USDA/NIFA, in cooperation with the Idaho Barley Commission. Cost is $40 per person. This fee covers all materials (including a copy of the Specht’s book), snacks, and one dinner. Families and multiple generations are encouraged to attend.

To register for the workshop or request more information, call the Lewis County Extension Office, 208-937-2311, or e-mail Ken Hart at Pre-registration for “Keeping the Legacy Alive” class is required as seating is limited to 40 participants. Registration needs to be completed by March 14.

These classes are brought to you by University of Idaho Extension, a cooperative effort of the University of Idaho, U.S. Department of Agriculture, and Idaho counties.


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