Farm Transfer Education
Agricultural Economics & Community Development
Nathan Hulinsky
Extension Educator, Ag Business Management
University of Minnesota Extension
Brainerd
Abstract
For more than twenty years, the University of Minnesota Extension has delivered Farm Transfer workshops designed to guide farm families through the complex process of transitioning farm ownership and management to the next generation. Although the curriculum has evolved to reflect changes in farming operations, legal frameworks, and family dynamics, its core components have remained consistent. Two workshop formats are offered: a one-day, five-hour session and a two-day, ten-hour session.
The curriculum focuses on four essential areas of farm transition planning: (1) goal setting and communication, (2) farm business succession and asset transfer, (3) wills, trusts, and business structures, and (4) estate, retirement, and healthcare planning. Through these components, participants examine a range of transition options and evaluate the advantages and limitations of each. Workshops guide families in establishing clear goals for their farm's future, improving communication among stakeholders, assessing business entity structures, and exploring methods for transferring assets, including sales arrangements, inheritance mechanisms, and gifting strategies. Additional emphasis is placed on the importance of up-to-date wills, the appropriate use of trusts, and the integration of retirement income planning and healthcare considerations into the overall transition strategy.
This breakout session will present attendance data and evaluation results demonstrating the effectiveness and reach of the Farm Transfer program. It will also highlight the distinctions between the University of Minnesota Extension's intensive weekend farm-transition retreats and the shorter one-day workshop model.
Authors: Nathan Hulinsky, Susanne Hinrichs
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Nathan Hulinsky Extension Educator, Ag Business Management, University of Minnesota, Minnesota, 56401
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Susanne Hinrichs Extension Educator, Ag Business Management, University of Minnesota, Minnesota, 56401