The Colorado Department of Agriculture and Colorado State University Extension are presenting the inaugural Family Farm Transition Summit, Dec. 9 and 10, in Westminster, Colo. Agricultural lenders, wealth advisors, certified public accountants and attorneys from Colorado and surrounding states have been invited to attend and to help achieve increased awareness of available services and an increased network of service providers.
“Our partnership with CSU Extension will help us establish a team of professionals through the Family Farm Transition Summit with the skills to work with ag families to develop and implement their succession plan.” said Mark Gallegos, Technical Services Section Chief for the Colorado Department of Agriculture.
The goals of the summit are to increase the number and farm and ranch families that successfully transfer their businesses to the next generation and that begin and complete the process of succession and estate planning.
“Estate planning and farm succession are two of the most critical issues faced by farmers and ranchers in Colorado and around the world,” said Jeff Tranel, Agricultural and Business Management Economist with Colorado State University. “Given the worldwide importance of sound farm succession planning, it is critical that people helping farmers and ranchers – attorneys, accountants, coaches, facilitators, and others – have an understanding of both the personal and business aspects faced by producers as they transition their farms and ranches to future generations.”
Topics to be covered at the summit include the importance of creating a succession plan, reasons why farmers and ranchers do not have succession plans, a banker’s perspective, and mediation services. Commissioner Kate Greenberg will kick off the event. Space is limited to 100 participants, so early on-line registration is encouraged. More info is available from Mark Gallegos at 303-869-9093.