FUNDING & PROJECTS - My Risk Library Entry

Planning for the Future of the Farm: Managing the Risks of Farm Business Transition
 
Award Amount: $40,036 
Regional Center: Southern Region Risk Management Education Center
Grant Program: 2006 Competitive Grant Program

Project Directors: Jesse Richardson and Alex White
Email: jessej@vt.edu
Virginia Tech
Download Full Report .pdf  Planning for the Future of the Farm: Managing the Risks of Farm Business Transition

 

Summary Results Project Steps Materials Delivery Area Comments
PROJECT SUMMARY
This project consists of the development and delivery of an educational curriculum for farm business succession and transition in Virginia and North Carolina. Eight separate modules will be developed on the topics of Goals, Retirement Planning, Long-term Care, Estate Planning, Tax Issues, Selling the Farm, Leasing the Farm, and Developing Your Plan. Each module will consist of resource handouts, teaching materials and homework assignments generally applicable across the country, but also specific to Virginia and North Carolina laws and conditions. The curriculum will make use of case studies, videos and interactive teaching methods. Upon development of the curriculum, a train-the-trainer inservice training will be held in the early fall of 2006 for extension agents and other farm advisors on the use of the curriculum. A pilot workshop series for farm audiences will be held beginning in late fall of 2006 or the winter of 2007 in selected regions.
NUMBER OF PARTICIPANTS: 240
TOPICS COVERED
  • Insurance products
  • Financial records, analysis, and bench-marking
  • Plans and tools to address succession, estate planning, health, and well being
  • Tools for managing legal liability
  • Business and strategic planning
  • Interpersonal, family and business relationships
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