By Blake Jackson
The University of Wisconsin-Madison Division of Extension is launching a workshop series to help farmers organize vital documents and financial records, ensuring business continuity during emergencies. Proper preparation can also streamline estate planning meetings with professional advisers.
Organizing essential paperwork is often an overlooked task, as it can feel daunting and time-consuming. However, this series is designed to simplify the process, guiding farm families through building an “In Case of Emergency” (ICE) Box.
This resource provides a structured system to store important information, enabling families to manage farm operations effectively in the event of sudden incidents.
Throughout the program, participants will work through templates, questions, and discussions to create and assess their farm transition plans.
Once their ICE Box is established, they can evaluate multiple transfer scenarios to compare potential distribution plans, ensuring the farm's legacy is preserved.
By organizing personal and financial information beforehand, farm families will be better prepared to meet with legal and financial advisers to develop tax and legal strategies that align with their goals. Completing this groundwork can lead to reduced planning time and lower costs.
Farm Management Specialists Kevin Bernhardt, Joy Kirkpatrick, and Kelly Wilfert from UW-Madison Extension will lead the series. They will provide guidance through email correspondence and virtual “Open Office Hours” before hosting an in-person session in March.
The virtual sessions and open office hours are scheduled as follows:
- Friday, 24 January 2025, from 12-1 p.m.
- Friday, 7 February 2025, from 12-1 p.m.
- Friday, 21 February 2025, from 12-1 p.m.
The in-person workshop will take place on Friday, 7 March 2025, from 10 a.m. to 3 p.m., at the Upham Woods Outdoor Learning Center, N194 County Rd N, Wisconsin Dells, WI 53965. Participation is capped at 20 farms.
The cost is $250 per farm, covering attendance for up to two people at the in-person event. Early registrants, limited to the first 10 farms, can access a discounted rate of $175.
The registration deadline is Wednesday, 8 January 2025. Register online at uwmadison.eventsair.com/box25/reg.
For queries, contact Joy Kirkpatrick at joy.kirkpatrick@wisc.edu or 608-263-3485, or Kelly Wilfert at kelly.wilfert@wisc.edu or 608-263-5798.
Photo Credit: pexels-fauxels
Categories: Wisconsin, Business