Dr. Ron Hanson is an authority of ag economics. He'll talk about farm succession planning Monday in Fairbury/Photo courtesy of the University of Nebraska
By Todd Wineburner
Keeping family farms intact from one generation to the next is the focus of an upcoming presentation put together by the Young Leaders group at the Livingston County Farm Bureau. On Monday (1/19/15), Agricultural Economist Dr. Ron Hanson of the University of Nebraska will give an extensive presentation at the Walton Centre in Fairbury, covering key issues in passing an agri-business operation from one generation to the next. Jake Ralph is part of the young leaders group—he says there may have been a time in the past when passing on a farm was just a question of who would work the land. Now, he says the complexity of modern farming operations means more complex family decisions. “Today we see more of an asset value that has to be split up between several family members,” Ralph says. “And with the great cost to run an agriculture operation today, that can be somewhat of a sticky situation.”
Ralph goes on to say that young people shouldn’t allow themselves to believe that farm succession is an issue for the older generations in a family. Given the volatile nature of agri-business, Ralph says long-term planning is essential, and that’s another reason why the farm bureau booked the presentation. “Commodities are constantly fluctuating,” Ralph says, “and that is where our young people need to understand that the grass isn’t always going to be so green.”
Dr. Ron Hanson’s presentation is free. The doors at the Walton Centre will open Monday evening at about 5, with a complimentary meal served at 5:30. The presentation begins at about 6:15. To make a reservation, call the Farm Bureau office in Pontiac at 842-11-03.
