College Park, MD – This winter, the Department of Agricultural and Resource Economics (AREC) is partnering with the Agriculture Law Education Initiative (ALEI), the University of Maryland Extension, the Maryland Department of Agriculture, and Nationwide Insurance to host a series of one-day farm succession workshops around Maryland.
As of 2017, the average age of principal farm operators in Maryland is 59, according to the USDA-National Agricultural Statistics Service’s state agriculture overview, illustrating the increasing need for the farming community to understand how to pass on the farm to the next generation.
Seven winter workshops are split into two series designed around the idea that the succession process requires financial planning, communication, and a general understanding of business planning and estate planning tools.
The first series of workshops, Transferring the Farm to the Next Generation, includes five workshop dates and features speakers like Farm Management Specialist Dale Johnson, Craig Highfield with Alliance for the Bay, and Extension Legal Specialist Paul Goeringer. This series will discuss business planning techniques, attached forested land, estate planning, tax basics, and more. For more information on the Transferring the Farm to the Next Generation workshop series, or to register, click here(link is external).
The second series of workshops, Investing in your Farm’s Future, includes two workshop dates. These workshops will feature Extension Agent Jesse Ketterman, ALEI Research Associate Mayhah Suri, Professor and Department Chair Dr. Lori Lynch, and Extension Legal Specialist Paul Goeringer. This series will include discussions on the specifics of retirement planning and what individuals can do to fulfill their wishes after the succession process, communication strategies, use of conservation easements, and estate planning case studies illustrating what can happen when the process isn’t properly conducted. For more information on the Investing in your Farm’s Future workshop series, or to register, click here(link is external).
Dates and locations for both workshop series are:
Transferring the Farm to the Next Generation Workshop Series Dates and Locations:
Queen Anne’s County – Monday, November 26, 2018, 8:30 a.m. – 3:00 p.m. – Chesapeake College – Eastern Shore Higher Education Center 1000 College Cir, Queenstown, MD 21658
Allegany County – Thursday, December 6, 2018, 8:30 a.m. – 3:00 p.m. – Allegany College of Maryland, 12401 Willowbrook Rd, Cumberland, MD 21502
Wicomico County – Wednesday, December 12, 2018, 8:30 a.m. – 3:00 p.m. – Wicomico County Extension Office, 28647 Old Quantico Rd, Salisbury, MD 21801
Howard County – Wednesday, January 16, 2019, 8:30 a.m. – 3:00 p.m. – Howard County Fairgrounds, Dining Hall, 2210 Fairgrounds Rd, West Friendship, MD 21794
Baltimore County – Thursday, January 17, 2019, 8:30 a.m. – 3:00 p.m. – Baltimore County Extension Office, 1114 Shawan Road, Cockeysville, MD 21030
To register for any event in this series, click here(link is external).
Investing in Your Farm’s Future Workshop Series Dates and Locations
Talbot County – Wednesday, January 30, 2018, 8:30 a.m. – 3:00 p.m. – Chesapeake College, 1000 College Circle, Wye Mills, MD 21679
Prince George’s County – Thursday, January 31, 2019, 8:30 a.m. – 3:00 p.m. – Prince George’s County Soil Conservation District Office, 5301 Marlboro, Race Track Rd, Upper Marlboro, MD 20772
To register for any event in this series, click here.(link is external)
This material is based upon work supported by USDA/NIFA under Award Number 2015-49200-24225.