The agricultural sector is facing a pressing challenge: the successful transfer of farming operations from one generation to the next. As the average age of U.S. farmers continues to rise, the need for effective farm transition planning has never been more critical. Addressing this issue head-on, the Cultivating Connections Conference is set to take place on August 5-6 at the University of Cincinnati College of Law, targeting professionals who are instrumental in facilitating these transitions.
The statistics underscore the urgency. According to the 2022 USDA Census of Agriculture, the average age of U.S. farmers has climbed to 58.1 years, up from 57.5 in 2017 and significantly older than the average age reported in the 1945 Census. Furthermore, over 60 percent of all producers are now 55 years of age or older. These numbers highlight a demographic shift that could impact the future of agricultural productivity and sustainability if not properly managed.
Peggy Hall, director of The Ohio State University Agricultural and Resource Law Program, emphasized the importance of this conference. “The Cultivating Connections Conference targets the professionals who enable a critical issue today: the successful transfer of agricultural operations from one generation to the next,” Hall said. The conference aims to provide a comprehensive forum for attorneys, accountants, appraisers, educators, and other farm transition planners to exchange ideas and strategies.
The event is a collaborative effort, hosted by The OSU Agricultural and Resource Law Program and co-sponsored by the Center for Agricultural Law and Taxation at Iowa State University (CALT) and the National Agricultural Law Center (NALC). This partnership brings together a wealth of expertise and resources, ensuring that attendees will gain valuable insights into the complexities of farm transition planning.
Among the notable speakers is Elizabeth Rumley, NALC Senior Staff Attorney, who will address the topic of replenishing rural practice. The conference will cover a range of subjects, from legal frameworks to financial planning, offering a holistic approach to farm transition. Organizers have also applied for Continuing Legal Education (CLE) credits for Ohio and Iowa, as well as IRS Continuing Education credits, making this event not only informative but also professionally beneficial for attendees.
Registration for the conference is available online until August 2, with options for both in-person and virtual attendance. This flexibility ensures that a wider audience can participate, regardless of geographic constraints. The goal is to equip professionals with the tools and knowledge they need to help farmers navigate the often complex process of passing on their operations to the next generation.
The implications of successful farm transitions are far-reaching. Ensuring that younger generations can take over farming operations smoothly is crucial for maintaining agricultural productivity and sustainability. It also has significant economic implications, as family farms contribute substantially to local and national economies.
In summary, the Cultivating Connections Conference represents a pivotal opportunity for professionals involved in farm transition planning to come together, share knowledge, and develop strategies that will help secure the future of U.S. agriculture. With the average age of farmers continuing to rise, the importance of effective transition planning cannot be overstated. This conference aims to address that need, providing a platform for learning and collaboration that will benefit the agricultural community for years to come.