JAMESTOWN, N.D. (NewsDakota.com) – It might be a tough conversation, but it’s an important one.

The NDSU Extension Service provides Succession Planning for Farm & Ranch families, which are designed to help plan and shape the future ownership of their business.

Stutsman County Extension Agent Christina Rittenbach says the multi-session workshop helps those who participate get started on their plan with a variety of things.

Studies indicate that while 88% of farm families hope to pass the farm on to the next generation, only 30% of farms survive the second generation, 12% survive the third generation and 3% survive the fourth generation.

These courses were created to help reverse that trend.

Extension Agent Alicia Harstad says this course is focused primarily on the communication aspect of designing a plan.

Participants will work with professionals to construct their plan and documents to put their family’s vision into action.

Harstad says they will be holding their workshop January 16th and 23rd. Because there is so much information, participants will need to attend both evenings.

Rittenbach added that it’s never too early to begin working on a succession plan.

The cost to attend the workshop is $125 for the first family member and $50 per additional family member. Registration is preferred by January 13th.

Click here for more information or to register.

Listen to a full Let’s Talk About It with Agents Christina Rittenbach and Alicia Harstad below: