• Paul Goeringer

University of Maryland to Host Workshops Geared Towards Succession and Legacy Planning

Updated: Jun 26, 2020

LEAD MD seminar in 2019 in Salisbury MD. Image shows current LEAD MD class in classroom. Image is by Edwin Remsberg.

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This winter, the Department of Agricultural and Resource Economics (AREC) is partnering with the Agriculture Law Education Initiative (ALEI) and the University of Maryland Extension to host a series of one-day farm succession workshops around Maryland.

As of 2017, the average age of principal farm operators in Maryland is 59, according to the USDA-National Agricultural Statistics Service’s state agriculture overview, illustrating the increasing need for the farming community to understand how to pass on the farm to the next generation.

Five winter workshops are split into two series designed around the idea that the succession process requires financial planning, communication, and a general understanding of business planning and estate planning tools.

The first series of workshops, Transferring the Farm to the Next Generation, includes two workshop dates and features speakers covering business planning, communication, and estate planning tools. This series will discuss business planning techniques, attached forested land, estate planning, tax basics, and more. For more information on the Transferring the Farm to the Next Generation workshop series, or to register, click here.

The second series of workshops, Investing in your Farm’s Future, includes three workshop dates. These workshops will feature speakers covering hands-on experiences with retirement planning, communication, and legacy planning. For more information on the Investing in your Farm’s Future workshop series, or to register, click here.

Dates and locations for both workshop series are:

Transferring the Farm to the Next Generation Workshop Series Dates and Locations:

  1. Dorchester County – Monday, January 13, 2020, 8:30 a.m. – 3:00 p.m. – Eastern Shore Hospital Center, English Hall, 5262 Woods Road, Cambridge, MD 21613

  2. Cecil County – Wednesday, January 15, 2020, 8:30 a.m. – 3:00 p.m. – Calvert Grange Hall, 2357 Telegraph Rd, Rising Sun, MD 21911.

To register for any event in this series, click here.

Investing in Your Farm’s Future Workshop Series Dates and Locations

  1. Lower Shore – Tuesday, January 14, 2020, 8:30 a.m. – 3:00 p.m. – Wicomico County Extension Office, 28647 Old Quantico Rd, Salisbury, MD 21802-1836

  2. Montgomery County – Wednesday, January 22, 2020, 8:30 a.m. – 3:00 p.m. – Montgomery County Extension Office, 18410 Muncaster Road, Derwood, MD 20855

  3. Carroll County – Friday, January 31, 2020, 8:30 a.m. – 3:00 p.m. – Carroll County Extension Office, 700 Agricultural Center Dr., Westminster, MD 21157

To register for any event in this series, click here.

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