Play Helps Farmers Talk About Succession Planning

May 05, 2016

By Tracy Daugherty

University of Missouri Extension will present a free play to help farmers talk about succession planning, 7-9 p.m. Friday, June 10, at the Gary Dickinson Performing Arts Center at Chillicothe High School.

“Map of My Kingdom” gives members of farming communities a look at the difficult process of transferring farmland from one generation to the next, says MU Extension community development specialist Tracy Daugherty.

The play, written by Iowa poet laureate Mary Swander, tackles the sensitive issue of preserving farm family legacies.

MU Extension agriculture business specialist Joe Koenen will introduce the one-hour play. A panel discussion will be held after the play. Participants include attorneys and MU Extension specialists.

The succession planning process helps the next generation run the farm, Daugherty says. Most successful plans develop over time to minimize tax burdens, protect assets and maintain successful family relationships, she says.

Chillicothe High School is at 2801 Hornet Road, Chillicothe.

According to USDA, the average of age of farmers is over 58 and more than 10 percent of farmland is expected to change ownership in the next five years.

Source:missouri.edu

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