Generational Transition Program

Are Your Legal Documents as Dated as a 1970’s Polyester Jumpsuit?

published: Tuesday, October 29, 2019

As kids, we used to look at our parents’ high school pictures and poke fun at the funny hair and heavy polyester bell bottoms, in the lovely harvest-gold color.  “How outdated!” we giggled smugly (looking cool in our 1990’s fabric hair scrunchies and tapered legged, stone washed jeans).

Just as clothing and hair styles trend out, is it time your legal documents looked in the mirror?  Is it time for a modern-day makeover?

When is it time to alter an estate plan that has already been created? 

Workbook from "Farm/Ranch Transition When You Aren't in Control"

published: Tuesday, October 22, 2019

This workbook, developed for the "Farm/Ranch Transition When You Aren't in Control" workshops, has a written script for families wishing to communicate about the transition, tips on how to communicate effectively, and information on legal and financial considerations.  Developed by Nebraska Extension.

Producer Panel & Attorney Will Share at Generational Transition Workshop

Thursday, November 21st in Hartington, NE

published: Friday, October 4, 2019

     Time is a scare commodity- especially for farmers and ranchers.  Are you too busy to finish your estate and transition plan?  What happens if your family’s farming or ranching operation is unable to transfer to the next generation? 

     Now is the time to start your transition!  A meeting will be held to help families navigate the common landmines including legal, financial, and communication issues on Thursday, November 21st at Hartington, Nebraska.

     Several respected Nebraska farmers and ranchers have agreed to share their experiences with generational transition. Learn from this panel of producers, who have experienced transitions, each in their own way.  The panel will discuss what worked and what did not work for their operations and families. 

Is “Equal” the Same as “Fair”?

The Little Red Hen's Story

published: Wednesday, October 2, 2019

“The most unfair thing you can do to your children is to treat them all equally,” stated a farm/ranch transition expert.

The story of “the Little Red Hen” cames to my mind.  The hen and her chick plant the seed, tend, harvest, grind, and bake the wheat into bread.  Although the poultry clan ask other farm yard animals for help, the other animals refuse to participate.  After smelling the hot crusty loaf, the other farm animals want to eat the bread they did not contribute to.  Was it fair if the Little Red Hen chose to only share the bread with her chick?  Was it fair?  Was it equal?

FREE LEGAL & FINANCIAL CLINICS IN OCTOBER

Nebraska Rural Response Hotline

published: Monday, September 23, 2019

Free legal and financial clinics are being offered for farmers and ranchers in October. The clinics are one-on-one meetings with an Ag Law Attorney and an Ag Financial counselor. 

These are not group sessions, and they are confidential.  The attorney and financial advisor specialize in legal and financial issues related to farming and ranching, including financial and business planning, transition planning, farm loan programs, debtor/creditor law, debt structure and cash flow, agricultural disaster programs, and other relevant matters.     

To sign up for a clinic or for more information, call the Rural Response Hotline at 1-800-464-0258.  Read more...

Farms Dwindle. How Many Will be Left in One Generation?

published: Tuesday, September 10, 2019

Unprecedented consolidation is on its way.  According to an article in the Successful Farmer (May 2019), only “one out of every four or five commercial operators today” will be farming in the future.  “They (mega-operators) (will be) CEO farmers.”

But this generation has the ability to change this forecast?  How? 

FREE LEGAL & FINANCIAL CLINICS IN SEPTEMBER

Nebraska Rural Response Hotline

published: Tuesday, September 3, 2019

Here is an opportunity to obtain an independent, outside perspective on issues that may be affecting your farm or ranch.  Free legal and financial clinics are being offered for farmers and ranchers. The clinics are one-on-one meetings with an Ag Law Attorney and an Ag Financial counselor.

These are not group sessions, but individual sessions.  And confidential!  The attorney and financial advisor specialize in legal and financial issues related to farming and ranching, including financial and business planning, transition planning, farm loan programs, debtor/creditor law, debt structure and cash flow, agricultural disaster programs, and other relevant matters.  Read the full article for September locations and dates.

GET HELP WITH YOUR RANCH TRANSITION PLAN

published: Monday, September 2, 2019

The Nebraska Grazing Lands Coalition (NGLC) wants to assist farm and ranch families with the often daunting task of transitioning their family farm or ranch.

Follow this link for resources.

Buy-Sell Agreement: A Useful Transition Legal Tool

published: Tuesday, August 27, 2019

A buy-sell agreement can be a useful legal tool when planning your ranch transition.  This agreement addresses what happens when one or more of the owners dies, retires, becomes incapacitated or wants out of the business.  Benefits may extend beyond the business and into family relationships.

What is a buy-sell agreement?  Can a buy-sell agreement benefit your farm or ranch transition plan?

My Sweat, Your Equity

Is Compensation Needed?

published: Monday, August 19, 2019

When physical jobs become a burden, ranchers may look to add the next generation to the operation.  Their enthusiastic energy is welcomed and needed to keep the ranch up and running. 

However, are these young folks being compensated for “their sweat” when it is “your equity”?

Do you think the homeowners flipping houses would invest their time and labor for free into someone else’s home?  No, I think not.  Why do we expect our returning ranchers to invest their labor for free (or almost free) on the ranch? 

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Upcoming Events

Upcoming Events

Find a generational transition meeting near you and let us help you ensure a successful ranching future!

Generational Transition Workshop

North Platte, NE

event details: 6/11/2019 10:00 AM Export event

Generational Transition workshop at North Platte, 10 am—2 pm CT. 

Several respected Nebraska ranchers and farmers have agreed to share their experiences with generational transitions at upcoming meetings. Learn from this panel of producers, who have experienced transitions, each in their own way.  The panel will discuss what worked and what did not work for their operations and families.  An experienced attorney will also cover helpful legal tools to transition your farm or ranch to the next generation.  

Sufficient time will allow for questions from the audience. 10:00 A.M. CT until 2:30 P.M. CT on Tuesday, June 11, 2019 at the West Central Research & Extension Center (Synder meeting room) in North Platte, Nebraska.  The Nebraska Grazing Lands Coalition’s Summer Tour will follow the next day. 

Call the Extension Office at 308-532-2683 or [email protected] to register.  Meal count is appreciated one week prior, but walk-ins are welcome.  The registration fee is $15 and includes a meal

2019 Generational Transition Conference Flyer

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