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Utah State University Extension Farm and Ranch Succession Planning Program

Joshua Dallin, Jacob Hadfield, Matthew Garcia, and Ryan Larsen

Summary

The succession or transition of farms and ranches presents many unique challenges, but with the right tools and training, it can prove to be an effective way to manage risk for both operation owners and their potential successors. The 2017 Census of Agriculture reported that the average age of producers in Utah was 58.7. This staggering statistic explains the significant response from farm and ranch producers in Utah who have listed succession planning as one of the most important programmatic needs from Utah State University Extension. To respond to this need, Utah State University Extension has l leveraged resources developed in other states and formed a presentation team to provide a unique Extension driven program that offers training, tools, and strategies to farm and ranch producers. The Extension team consists of a Beef Extension Specialist, Farm Management Specialist, and County level Extension faculty. This approach provides synergies based on skillsets and relationships with participants. The farm and ranch succession plan provides producers with a workbook created by North Dakota State University. that the workbook allows producers to create their own unique plans pertaining to business, retirement, transition, and estate planning at a pace that is comfortable to them. The workbook, when completed, offers significant financial savings to the farm or ranch producer. The training also teaches strategies for communication, preparedness, understanding roles, family meetings, and conflict management. This session will go over the availability of the curriculum, how it is being received, and the lessons and outcomes of the collaboration.

Details

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