Business and Family Meetings
In this module, you will learn the difference between business and family meetings, how to initiate them, who should be involved, how often they should occur, what to do if they become hostile and what should be covered.
Approximate Time to Complete This Module:
-Video Lessons: 15 minutes 22 seconds
-Worksheet/Activity Estimated Time: 1-2 hours
Farm Transition vs. Estate Planning
In this module, you will learn the difference between business and family meetings, how to initiate them, who should be involved, how often they should occur, what to do if they become hostile and what should be covered.
Approximate Time to Complete This Module:
-Video Lessons: 12 minutes 6 seconds
-Worksheet/Activity Estimated Time: >1 hour
Business Plan, SWOT and Strategic Plan
In this module, you will learn the importance of having a business plan in the farm transition planning process. Strengths, weaknesses, opportunities and threats (SWOT) will also be covered, as well as strategies for an effective strategic plan.
Approximate Time to Complete This Module:
-Video Lessons: 6 minutes 56 seconds
-Worksheet/Activity Estimated Time: 3-4 hours
Entity & Organizational Charts
In this module, you will learn the difference between entity and organizational charts, what should be included in each, who should be involved in developing the charts and how they benefit the farm transition planning process.
Approximate Time to Complete This Module:
-Video Lessons: 8 minutes 30 seconds
-Worksheet/Activity Estimated Time: 2-3 hours
Contracts
In this module, you will learn the importance of contracts as part of your farm transition planning process. The module covers land leases, purchase and sales agreements and provides a contract checklist.
Approximate Time to Complete This Module:
-Video Lessons: 6 minutes 43 seconds
-Worksheet/Activity Estimated Time: >1 hour
Recordkeeping
In this module, you will learn the importance of records and recordkeeping as part of your farm transition planning process. The module covers key documents to be stored, contacts lists, resource inventory, desired gifts and bequests and general recordkeeping.
Approximate Time to Complete This Module:
-Video Lessons: 5 minutes 37 seconds
-Worksheet/Activity Estimated Time: 1-3 hours
Business Structures
This module covers common business structures like sole proprietorships, LLCs and partnerships, with links to IRS resources. It includes a worksheet to help brainstorm possible business structures for farming operations.
Approximate Time to Complete This Module:
-Video Lessons: 9 minutes 16 seconds
-Worksheet/Activity Estimated Time: >1 hour
Job Descriptions
In this module, you will learn the importance of job descriptions and organizational charts for your operation. You will explore the benefits of both, parts of a job description, how to review and update them, and their role in performance evaluation.
Approximate Time to Complete This Module:
-Video Lessons: 6 minutes 39 seconds
-Worksheet/Activity Estimated Time: 2-4 hours
Personalities
In this module, you will learn the importance of personalities as part of your farm transition planning process. The module covers DISC personality profiles and how personalities can impact the farm transition process.
Approximate Time to Complete This Module:
-Video Lessons: 12 minutes 52 seconds
-Worksheet/Activity Estimated Time: 1-2 hours
SMART Goals
In this module, you will learn the importance of creating SMART Goals as part of your farm transition planning process. The module covers SMART goals, how to develop goals for your transition planning process, prioritization and success.
Approximate Time to Complete This Module:
-Video Lessons: 8 minutes 43 seconds
-Worksheet/Activity Estimated Time: 3-4 hours