Jolene Brown, international family business consultant and Successful Farming columnist, will be sharing ways to preserve family relationships and navigate the transfer of ag businesses to the next generation at Reck Agri Realty & Auction in Sterling on August 23.
“I’m so excited to be coming your way,” Jolene said. “We’re going to talk about the people, the process and the paperwork you need to do to make sure you have a business worthy of transitioning. And then what you’re going to have to have in place to make sure that actually gets done.”
Jolene has been called agriculture’s version of Dr. Phil, and her 30+ years of working with farm families have taught her valuable lessons of what works…and what doesn’t. Her years of experience will benefit attendees and their operations as they learn how to transition labor, management, leadership and ownership – and leave with tools that they need to do just that. In addition to working with Jolene, attendees will be able to interact with a panel of experts in accounting, estate planning, real estate and law.
Nationally, one-third of family-run businesses, including farms and ranches, have transferred the business successfully to the next generation – from the first generation to the second. However, the rate falls to 14% when transferring from the second generation to the third, and to less than 3% from the third-generation plus. Proper planning can help mitigate the issues surrounding family farm estates and keep families together at the holiday table. The timing is critical, as the National Ag Statistics Service estimates that around 70% of the farmland across the U.S. will be changing hands in the next 20 years.
For more information, find Reck Agri Realty & Auction at reckagri.com; on Facebook, Twitter, LinkedIn and Instagram; or by calling 970-522-7770 or emailing [email protected]. Established in 1990, Reck Agri Realty & Auction is known for their ag expertise, attention to detail and ability to navigate complex situations with ease. Together, the team has sold over 848,000 acres in Colorado, Nebraska and Kansas and closed over 1,820 transactions.