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Virginia Cooperative Extension -
 Knowledge for the CommonWealth

A Comprehensive Approach to Farm Business Succession Planning

Farm Business Management Update, October - November 2007

By Eric Eberly, Central District Farm Business Agent

This workshop is sponsored by Virginia Cooperative Extension, in cooperation with Virginia Tech and the NC Farm Transition Network, Inc.  Topics discussed will provide an overview of the farm transition process for farm family members interested in learning more about the efficient transfer of farm operations between generations.  It will also help aspiring and beginning farmers interested in understanding the issues surrounding their partnering with an established operator.  Professionals who assist others with their estate and financial planning are encouraged to register to learn more about issues affecting their clients.

The speakers from Virginia Tech are Dr. L. Leon Geyer, Attorney and Professor, Agricultural and Applied Economics; Dr. Jesse Richardson, Attorney, Program Chair and Assistant Professor, Urban Affairs & Planning Coordinator; and Dr. Alex White, Instructor and Extension Specialist, Agricultural and Applied Economics. Each speaker draws on his experience to stress the importance of developing a farm business succession plan.

Date: Friday, November 16, 2007
Location: Southern Piedmont AREC, Blackstone, Virginia


Workshop Agenda

9:00     Check-in – Coffee & Continental Breakfast

9:30     Welcome and Introduction to Farm Succession Planning and Risk Management
            Basic Estate Planning – Communication, retirement, disability and estate planning
            Evaluating the Farm Business – How many families will your farm business support?
Noon   Lunch

1:00     Basic Succession Planning – Sharing income and transferring assets and management.

            Forms of Business Organization – Which business entity to choose and when to consider a change?

Tying it all together.

3:30     Adjourn

For more information about this workshop and registration contact Eric Eberly, Central District Farm Business Agent at 434-292-5331 Ext. 241 or by email .

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Registration Form

Registration is $25 per individual or $30 per couple. Add $10 for each additional family member.  Registration includes notebook materials, lunch, break drinks and snacks. Pre-registration is required.

Make check payable to “VCE-Nottoway County.” Mail registration and payment by Friday, November 9, 2007 to Nottoway County Extension, P.O. Box 22, Nottoway, VA 23955.      

Name ______________/ (Last) ____________________      Spouse ___________________

Additional Family                                                                                  Enclosed $_____


City, State, Zipcode
Telephone (Work, Home)

E-mail:  _________________________________



Job or Status (Check all that apply):
___ Farmer
___ Non-Farmer
___ Landowner
___ Professional
___ Government Employee

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