Take deep dive into family farm succession planning during daylong institute offered by MFU

Hear from expert speakers and get the tools to do a deep dive into your farm’s succession plan during the Succession Planning Institute offered Nov. 2 by Montana Farmers Union for multi-generational farm and ranch families.

The institute is free to MFU members or $50 for non-members and will be held from 8 a.m. to 8 p.m., Sunday, Nov. 2, at the Yogo Inn in Lewistown following MFU’s 110^th Annual State Convention to be held Oct. 31-Nov. 1 with preconvention tours planned Oct. 30.

“The issue of succession planning is a topic of great concern to our Montana Farmers Union members and therefore is a priority to our staff. It is a topic that can create an unnecessary rift in families if not properly addressed. We created the institute to equip farm and ranch families with the short- and long-term tools needed to create a financial and legal plan that works for them,” said Jodi Koterba, MFU’s education director.

The daylong workshop is geared for current and next generation owners and operators and includes a mixture of presentations, individual reflection, and private multi-generational family and farm discussions.

Montana Farmers Union has implemented an online learning lab with resources for families to consult as needed. Following the in-person event, participants will have access to virtual check ins for four months following the institute to allow for questions, requests for help, and to celebrate the establishment of plans. 

“A future for your next farm or ranch generation depends on laying a strong foundation now,” Koterba said. “The Succession Planning Institute is designed to use a variety of tools to enable successful and smooth multi- generational communications that allow everyone to have their voices heard.”

Topics that will be covered during the succession planning institute include:

• Estate planning expectations
• Examining approaches for disagreements
• Location and usefulness of existing documents
• Identification of mutual family level goals for the short, intermediate, and long terms
• Preparing to meet with lawyers/financial advisors
• Succession planning next steps.

Learn more at www.montanafarmersunion.com.