Succession planning, which includes estate and family business transfer planning, is often dropped to the bottom of to-do lists due to hectic schedules, work and family responsibilities. It is common for families to put off this important process because family members do not want to hurt others’ feelings, do not like conflict, think it is expensive, time consuming and do not know where to start. Fortunately, succession planning allows families to make clear decisions under relatively low stress circumstances which reduces conflict now and in the future. It is also more cost effective to plan now rather than later.
To help farm families begin planning, Dr. Angela Gloy, Purdue University Agricultural Economics Specialist, and Nick Held, Spencer County Ag. & Natural Resources Extension Educator, both members of the Purdue Farm Succession Planning Team, will be in Washington County on Monday, April 22 and Tuesday, April 23 to meet with individual farm families to discuss succession planning. Appointments for 1 hour sessions can be made by calling the Purdue Extension – Washington County office at 812-883-4601.
Dr. Gloy will speak on Succession Planning at the Salem High School Presentation Room at 6:00 pm on Monday, April 22, which is open to the public.