Farm Business Succession Workshop Scheduled

The decisions involved in the process of planning for the succession of a farm business from one generation to the next or from one owner to another are among the most critical set of decisions that a farm manager can make in his or her lifetime. Issues such as planning for the transfer of business decision making responsibilities, managing the impacts of estate, inheritance and capital gains taxes, and deciding how to divide farm assets among multiple heirs can be difficult for most farm managers to work through. The ability of a farm to continue through the generations depends, in part, on the development and implementation of a sound and detailed farm succession plan.


The Agricultural Entrepreneurship Team of Penn State Extension will conduct a workshop for farm families in Susquehanna County who wish to learn more about how they can successfully accomplish their goals related to farm business succession. The instructors for this workshop are individuals who are familiar with the legal issues, tax consequences, family concerns and farm profitability issues that farm families in Pennsylvania must consider every day.

The workshop will be held via video-conference on Wednesday, November 17, 2010 in the County Office Building, 81 Public Avenue, Montrose. The workshop will be held from 9:30 a.m. to 3:00 p.m. A fee of $25 per person will be charged to help offset the cost of meals and program materials. Pre-registration for this workshop is required. For more information please contact Michelle Kowalewski at 570-278-1158 or via email, mec190@psu.edu for more information.

Penn State encourages persons with disabilities to participate in its programs and activities. If you anticipate needing any type of accommodation or have questions about the physical access provided, please contact us at 570-278-1158, in advance, of your participation or visit. Penn State Cooperative Extension programs are open to all regardless of their ability to pay. Please contact us if you require reduced or waiver of fees to attend this educational program. This material is based upon work supported by USDA/NIFA under Award Number 2007-49200-03888.