News : Area women participate in farm management seminar

Women involved in family farm businesses learned about farm transition planning at the Managing for Today and Tomorrow workshop sponsored by Iowa State University Extension and Outreach and held at the Van Horne, Iowa community center. Nine women graduated from the 5-week (15 hours) program on April 17, 2014. “I enjoyed the learning and now can share it with my family,” said Vicki Gardemann, program participant.

Women are the heart of the family farm and often play an important communication and planning role in farm transitions. Recognizing this, the Annie’s Project team at Iowa State University Extension and Outreach collaborated with educators from across the country to develop a new course for farm women of all ages on the topic of farm transition. “We care deeply about helping farm families prepare for and successfully manage farm transitions,” said Ruth Hambleton, Annie’s Project Education for Farm Women founder. The Managing for Today and Tomorrow course in Van Horne was one of 25 farm transition courses offered throughout ten states.

“I really appreciated the spectrum of ages attending the program which allowed mentoring to occur. There were some really good conversations between beginning and established generations of farm women,” said Greg Walston, Benton County Extension Program Director. Managing for Today and Tomorrow covered the four key planning areas that create a successful transition: business, estate, retirement and succession. The course was brought to Van Horne by the Benton County Extension Council.

The primary course instructor was Madeline Schultz, Annie’s Project National Co-Director and Value Added Ag Program Extension Specialist. “It is always inspiring to see how passionate farm women in this course are about their families, their businesses and strengthening the future of agriculture,” she stated.

Ryan Drollette, ISU Farm Management Extension Specialist, provided instruction on financial statements and how business planning can be done to describe the strategies on how the business will earn and distribute income and what the goals are for the future of the farm and family. Phyllis Zalenski, Family Resource Management Extension Specialist, guided participants through retirement planning for an enjoyable and productive time in life. She helped farm women think about how their roles in the farm business may change.

The hands-on course provided participants with tools and information needed to develop good plans. One of the tools was an estate planning questionnaire. “An estate plan won’t work if the

attorney does not have all the information,” said Mark Mossman, Vinton attorney and guest instructor during the course. Estate planning includes the legacy of transferring land and other assets to heirs while attempting to eliminate uncertainties.

Another guest instructor, Landis Wiley, Cedar Rapids financial advisor, discussed succession planning and provided several interesting case studies. “If you are afraid of family meetings, bring in a trusted advisor to keep the discussion going,” he suggested. Succession planning communicates the approach for moving labor, management and assets from the established generation to the beginning generation.

Following the farm transition course, participants established important goals for themselves and their farm businesses. Many plan to create or update their wills and other estate plans. Several participants are developing written business plans, and others have started family meetings to plan for successful transitions. “I was so pleased we had the opportunity to bring a quality program like this to Benton County,” remarked Allison Hicks, Extension Council member and program participant.

The Crooked Antler Restaurant provided a wonderful dinner each evening during the course to accommodate busy schedules. The Managing for Today and Tomorrow courses in Iowa are partially supported by Farm Credit Services of America and the USDA Beginning Farmer and Rancher Development Program of the National Institute of Food and Agriculture, grant # 2011-49400-30584.

Photo caption: Participants in the Managing for Today and Tomorrow course graduated on April 17. Pictured - L to R, Front to Back: Phyllis Ritscher, RoniFrye (guest), Cathy Povlick, Angela Merchant-Stueck, Pat Beck, Sandi Gibney, Greg Walston (Benton County Extension Director), and Maria Marks. Not pictured: Allison Hicks, Pauline Grovert, and Vicki Gardemann.