The Legacy Project
The Legacy Project is a catalyst for families to begin the process and an essential go-to source for the tools to simplify the complex and daunting task of succession planning. The multiyear commitment and sponsorship from Pioneer will enable Farm Journal Media to enhance its editorial effort to raise awareness surrounding legacy planning and will kick off the single largest industry initiative of its kind in agriculture today. Farm Journal Media will support and promote this program across all its media platforms.
What is succession planning?
Succession planning creates a pathway to multi-generational success for the owner, family, and agribusiness. The process addresses:
- Ownership transition to ensure a smooth transition (including management continuity and employee satisfaction).
- Leadership development to help define roles and responsibilities and build development plans for a prepared successor.
- Estate planning to minimize estate tax and transfer obligations that allows the family to plan fair and equitable distributions.
- Financial security that encouraging the methods to ensure the family's financial security also provides cash flow to support succession intentions, retirement, and contingencies.
Why is Pioneer supporting?
Industry research shows nearly 80 percent of current farm operators plan to transfer control of their operations to the next generation, but only 20 percent are confident in their succession plans. In fact, nearly 40 percent have no plan at all.
For more than 80 years Pioneer has supported farm customers and communities by providing the best products and services to increase farmers' productivity and profitability. Supporting The Legacy Project underscores the company's dedication to empowering the American farmer with the resources and tools necessary to make this multigenerational transition successful.
The Legacy Project will include:
- Hands-on training workshops with succession planning expert Kevin Spafford, author of Legacy by Design: Succession Planning for Agribusiness Owners. Spafford, a certified financial planner, owns Legacy by Design, a firm that guides farmers and agribusiness owners through the succession planning process;
- extensive editorial coverage in Farm Journal, Top Producer and Dairy Today magazines, on the "AgDay" and "U.S. Farm Report" TV shows and AgWeb.com, with case studies and comprehensive coverage;
- a special issue of Farm Journal magazine dedicated exclusively to the topic;
- specific training and tools;
- a monthly Legacy television show; and
- a weekly eNewsletter.
Links to The Legacy Project
For more succession planning information, resources and tools, visit www.FarmJournalLegacyProject.com.