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Succession
workshops continue
By
PEG
HERRING
Oregon
State
University
April 18, 2008
When it's time to pass along the family
ranch, long-term planning is necessary. A continuing series of
workshops will help ranch owners plan transitions from one
generation to the next.
"In the first workshop, we asked ranchers what would happen
if they suddenly passed away," said Bart Eleveld, an
Oregon
State
University
economist and one of
the workshop organizers. "Would their ranch survive to be
passed to heirs? Or would taxes and legal fees eat up so much that
the ranch would have to be carved up or sold?"
The workshop series, "Ties to the Land: Succession Planning
for Ranching Families," continues that conversation and is
open to new and continuing participants.
Succession plans are all about communicating between spouses and
generations, Eleveld said. "What are your goals? What do you
want the future to look like? How will you get there?"
The workshop series, which began in January, is helping ranching
families prepare good succession plans that anticipate all
possible events so that a family's goals for the future of their
ranch are achieved. It is sponsored by OSU's Extension Service and
Austin Family Business Program, the Oregon Cattlemen's Association
and the USDA Risk Management Agency.
The second session will be this month and will cover financial
analysis; the succession planning process; fair vs. equal, and
conflict resolution; appraisal and valuation discount; land trusts
and charitable remainder trusts; and LLC, FLP and buy-sell
agreements.
The sessions will be at the following locations and dates:
• Prineville: April 21, at Brother's Restaurant,
1053 N.W. Madras
Highway
.
•
Baker
City
: April 22, at
Sunridge,
One Sunridge Lane
.
• Burns: April 23, at the Burns Elks Lodge No. 1680, 118 N.
Broadway.
•
Klamath Falls
: April 24, at the
Klamath
Basin
Research and
Extension
Center
,
3328 Vandenberg Road
.
•
Eugene
: April 25, at the Red
Lion Inn,
205 Coburg Road
.
Families who attended the first session in January have already
paid their registration fees. Families who missed the first
session are welcome and will be charged a $25 registration per
farm. The workshop sessions will run from
9:30 a.m.
to
3 p.m.
at each location.
Lunch will be served for an additional per-person charge collected
at the door.
Those who missed the January workshop can review the Session 1
video and handouts at http://arec.oregonstate.edu/succession.html
In addition to Eleveld, speakers will include financial advisers
Doug Sippel, Steve Hopkins and Harold Weight; attorney George
Guyer; certified public accountant Randy Guyer; and Oregon
Rangeland Trust executive director Frank O'Leary.
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