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Al and Debi King have run cattle on their century farm near Bruner since they acquired the property in 2010.

Do you have a succession plan for your farm or small business? University of Missouri Extension is reaching out to help farm families, individuals and businesses with succession, estate and retirement planning.

The program is called “Your Farm, Your Business, Your Future,” and consists of a two-session workshop to be held on Friday, Aug. 23, from 1-8 p.m. and Saturday, Aug. 24, from 9 a.m.-4 p.m. It will be held at the MU Southwest Research Center, 14548 State Route H, Mt. Vernon.

A team of University of Missouri Extension specialists with extensive educational experience and technical backgrounds, along with a Missouri probate judge and a certified financial planner will teach the program. This class is designed to help owners of farms and small businesses begin creating a plan for transferring a farm or business to the next generation, as well as addressing the many issues involved with estate and retirement planning. 

Topics such as setting goals, assessing a farm’s or business’s strengths and weaknesses, the probate process in Missouri, estate planning tools, calculating retirement needs and much more will be covered.

Pre-registration is required by 4:30 p.m. Monday, Aug. 19. The cost is $120 per individual and $60 for each additional person from the same business with one set of materials. The cost includes an educational handbook with case study examples, forms for planning, developing financial statements and record keeping. An evening meal on Friday and a noon meal on Saturday are provided. A minimum number of participants at each site is necessary to hold the class.

For more information, contact Jim Spencer Jr., Field Specialist in Agriculture Business, by calling (417) 581-3558 or emailing him at spencerjr@missouri.edu.

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