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Program Description

Whether it’s a marriage, the practice of medicine or a multiple-party business arrangement, we firmly believe in the adage that “an ounce of prevention is worth a pound of cure.”

Are you a son or daughter thinking of joining your parents’ farm or ranch operation in the near future? Is your child(ren) considering moving home to work for the family operation within the next few years? If this sounds like you, it would be wise to consider all of the financial and relationship risks associated with bringing family members into the farm/ranch business. The objective of the “Planning the Return to the Farm/Ranch Program” is to discuss the issues and alternatives that need to be considered and resolved before finalizing the commitment. It is essential for the son or daughter (along with their significant other) and their parents to attend this seminar. Planning for the future is key for a successful business and this program will benefit a family whose child is planning to return to the farm or ranch within one to two years.

There are many challenges a business face including financial problems and failure. Families and their businesses have been torn apart or ended up in legal battles over issues that could have been avoided with the use of better planning and communication. The use of appropriate agreements and business arrangements will also help to overcome these challenges. In addition to these topics, this seminar will also address:

  • Improving awareness of the issues that need to be addressed initially as well as problems that often arise later on. Most issues could be avoided if they are addressed in a proactive fashion.
  • The benefit of looking at your situation from multiple perspectives and learning about alternative approaches that have been used successfully by other family farms/ranches.
  • Improving communication and understanding among the parties involved. The result should be fewer relationship and financial problems.

Even in those cases where the business arrangement later dissolves, the resolution should be smoother, more amicable, and less dependent upon legal actions.