“What Does the Future Hold for Your Farm?,” a free event on family farm succession, will be held from 6–9 p.m. Tuesday, Feb. 3, 2015 at the Milwaukie Center, 5440 S.E. Kellogg Creek Drive, Milwaukie. The program is being presented by the East Multnomah Soil and Water Conservation District (EMSWCD), the Clackamas County Soil and Water Conservation District (CCSWCD) and the Austin Family Business Program at Oregon State University.
“The districts want to help farmers stay in business and keep good land in production,” said Rick McMonagle, manager of the East Multnomah district’s Land Legacy Program. “Providing producers with reliable information about how to transfer the farm to the next generation, is one important part of a sometimes complicated process.
The average age of farmers in Oregon is now over 59 years and many family farms are facing a transfer between generations or to someone outside of the family. There are many important questions for farm families to consider when retiring from farming. Can the current owners afford to retire? Do the kids want to keep farming? What’s the best way to transfer the farm’s assets? These are some of the important issues that have to be addressed.
This program features three prominent experts in farm transitions:
- June Wiyrick Flores, Miller Nash Graham & Dunn, LLP, is an attorney who focuses on developing and implementing succession strategies for families, family businesses and closely held businesses.
- Michael Menzies, farmer and financial planner at Pembroke Asset Advisors, LLC in Beaverton, OR, who works directly with farm families to find practical solutions to their financial issues.
- Sherri Noxel, Ph.D., director of the Austin Family Business Program at Oregon State University, leads many classes and workshops in farm succession planning throughout Oregon. She recently wrote an article on the topic for Digger magazine, entitled “Keeping it in the family.”
There is no cost for the event. Light refreshments will be served.