Farm Journal Hosting Succession Planning Workshop July 10th Clear Lake Iowa

 For more information contact:
Pam Fretwell
Phone: 217.223.1872
Email: pfretwell@farmjournal.com

Succession Planning Workshop for Farmers on July 10 in Clear Lake

Here’s a staggering fact: Families fail to keep their fam­i­lies and fortunes together for three or more generations 90% of the time.

While these seem like unbeatable odds, with good planning and preparation, farmers can become part of the coveted 10% who stick together, says Johnne Syverson, a family business consultant with Transition Point Business Advisors in West Des Moines, Iowa. 

The key is to focus on all four types of wealth and capital—human, intellectual, social and financial

Syverson says human capital involves who we are, where we come from and the talents of the family. Intellectual capital includes work and life experiences, formal and informal education, spiritual beliefs and practices and work ethic. Social capital consists of a person’s contribution back to the community. Finally, financial capital is comprised of assets, such as real estate, machinery, livestock and buildings.

“These components make up a more holistic view of wealth,” Syverson says. “It is important to transfer all components of wealth to the next generation. Without which, the financial wealth will eventually disappear.”

Families who are successful in transitioning their operation understand wealth in this way, Syverson says. Other good habits and common characteristics of successful families include:

  • Meet regularly and have fun together
  • Communicate well and exhibit trust
  • Know their family story
  • Actively mentor the successive generations
  • Celebrate shared values and accept any differences

“These things don’t have anything to do with taxes or buy-sell agreements,” Syverson says. “They have to do with relationships.”

Syverson will be leading a Farm Journal Legacy Project Workshop in Clear Lake, Iowa, on July 10. He will explain how to construct a succession plan, have critical conversations with stakeholders and assemble a helpful team of advisors.

CPA Paul Neiffer, with Clifton, Larson, Allen, LLP will explain the advantages and disadvantages of various entity structures and how to transfer assets and ownership. Attorney David Repp, with Dickinson,  Mackaman, Tyler & Hagen. PC, headquartered in Des Moines, will cover the legal aspects of succession planning.

 Event Details:

Farm Journal Legacy Project Workshop
Friday, July 10


Best Western Holiday Lodge
2023 7th Avenue N
Clear Lake, IA 50428

Speakers will include:

  • Johnne Syverson, Transition Point Business Advisors,  & Farm Journal Legacy Project Advisory Team
  • CPA Paul Neiffer, Clifton, Larson, Allen, LLP & Farm Journal Legacy Project Advisory Team
  • Attorney David Repp, Dickinson, Mackaman, Tyler & Hagen, PC
Learn more and register at www.FarmJournalLegacyProject.com or by calling 877-482-7203. 

About Farm Journal Media

Farm Journal Media is the nation’s prominent agricultural media company. Its magazines are the 138-year-old flagship Farm Journal, Top Producer, Beef Today, Dairy Today and Implement & Tractor. The company’s broadcast division produces and distributes two national television programs, “AgDay” and “U.S. Farm Report”, and three daily radio programs, “AgriTalk”, “American Countryside” and “Market Rally.” In 2014, the company introduced My Farm Radio, 24/7 digital mobile radio channel. The company produces the industry-leading web portal AgWeb.com and dominates mobile communication through “Farm Journal Mobile,” including Commodity Update. Farm Journal provides a national peer-to-peer advisory program for executive farmers and ranchers called Top Producer Executive Network™ and publishes ProFarmer and LandOwner newsletters. In 2013, the company launched Machinery Pete, LLC and hosts more than 70 live events each year. Farm Journal compiles and licenses detailed producer/industry data through its FarmReach database and in 2011, the company established The Farm Journal Foundation along with its “Farmers Feeding the World” initiative dedicated to sustaining agriculture’s ability to meet the vital needs of a growing population through education and empowerment.

 

June 2nd Dairy Iowa Event in Independence* Celebrate Dairy In Iowa: Profitability & Future of Dairy Farming

Celebrate Dairy in Iowa:  Profitability & Future of Dairy Farming 

Agenda

9:30 a.m.      Registration and refreshments

10:00 a.m.   Welcome: Larry Shover

                       MC: Mike Pearson, Market to Market Host

10:15 am      Guest Speaker: Sam Miller, BMO Harris Bank

11:00 a.m.   Profitability & Future of Dairy: Dairy Producer Panel

Noon            Lunch

12:45 p.m. -    Guest Speaker: Mike Pearson

1:05 p.m.  –     Recognition of Midwest Dairy and ISDA Scholarship Winners

1:15 p.m.     Champions of Dairy-Molly Pelzer, Midwest Dairy Association

1:30 p.m.     A Path Forward- Mary Wilcox. Midwest Dairy Association

2:00 p.m.     Ralph Keeling Leadership Award Winners

2:15 p.m.     Dairy Highlights and Opportunities

  •  IDALS: Mike Naig
    • DNR: Gene Tinker
    • CSIF: Brian Waddingham
    • NICC/Dairy Foundation: Megan Kregel
    • WIDA: LeAnne Philips
    • ISU Dairy Science and Animal Science: Leo Timms and Don Beermann

3:00 p.m. – Wrap up and thank you

 

 

Nominations Sought Keeling Leadership Award Deadline May 1st for Consideration

NOMINATIONS SOUGHT KEELING LEADERSHIP AWARD DEADLINE MAY 1st: The Ralph Keeling Leadership Award is presented annually to an Iowan who has shown outstanding leadership in Iowa’s dairy industry. This award is in honor of the late Ralph Keeling. Keeling operated a successful dairy farm and business, devoting much of his time and talents to progressing Iowa’s dairy industry. The Award was established in 1967 to recognize those individuals whose leadership efforts contribute significantly to Iowa’s dairy industry.

Download form here: RK Nom Form 2015

USDA Provides One-Time Extension of Deadline to Update Base Acres or Yield History for ARC/PLC Programs

WASHINGTON, Feb. 27, 2015 — Agriculture Secretary Tom Vilsack announced today that a one-time extension will be provided to producers for the new safety-net programs established by the 2014 Farm Bill, known as Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC). The final day to update yield history or reallocate base acres has been extended one additional month, from Feb. 27, 2015 until March 31, 2015. The final day for farm owners and producers to choose ARC or PLC coverage also remains March 31, 2015.

Read press release for additional information in link below:

USDA Provides One-Time Extension to Farm Bill Safety-Net Deadline – Update Final