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Timely Topics
The winter holidays afford many people the opportunity to renew and strengthen connections with family and people dearest to them. Holiday traditions, family gatherings, the long nights of early winter, and the obligation to summarize income and expenses for tax purposes can all combine to motivate a farm operator or landowner to think on the future of their land and other important assets. Mark your calendar now and save Wednesday, Feb. 22 for an important opportunity for any family considering the future of their farm. Virginia Cooperative Extension will offer a day-long seminar on family farm transition led by Dick Wittman, a renown expert and consultant on family farm business transition.
Wittman is board chair and former manager of a 20,000acre dry land crop, range cattle and timber operation in northern Idaho. Management of the farm has transitioned to a partnership of four other family partners. He also provides private consulting to farm, ranch and agricultural support businesses.
After receiving a degree in agricultural economics from the University of Idaho and an MBA from the University of Utah, Wittman worked for the Farm Credit System from 1972-1980, ascending to the highest levels of leadership in that organization. In 1980 he joined the family farm in Idaho and established a private consulting practice. Wittman has worked with numerous farm clients and professional practitioners, conducted seminars, facilitated strategic planning, taught college classes and developed training modules on agribusiness management topics for farm managers in the U.S., Canada, and Australia. He specializes in financial management, process improvement, developing management systems, business succession planning and conflict resolution.
Even if a farm is small and not anything like a full-time farming operation, the farm real estate may be the most valuable portion of a person’s estate and the fate of the land one of the most complicated components of their estate plan. Wittman’s experience and expertise has application to all land-owning families, not just large farming operations.
If you would like to begin exploring strategies for the transition of your family lands now, contact Tom Stanley through the Rockbridge Extension office or by e-mail to [email protected].
Virginia Cooperative Extension programs and employment are open to all, regardless of age, color, disability, gender, gender identity, gender expression, national origin, political affiliation, race, religion, sexual orientation, genetic information, veteran status, or any other basis protected by law. An equal opportunity/affirmative action employer.
