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2018 Take Root Conference

Michigan Farm Bureau

Monday, February 26, 2018 from 8:30 AM to 4:00 PM (EST)

2018 Take Root Conference

Ticket Information

Ticket Type Sales End Price Fee Quantity
MFB Member Single Feb 12, 2018 $110.00 $0.00
MFB Member Couple Feb 12, 2018 $85.00 $0.00
Non-Member Single Feb 12, 2018 $150.00 $0.00
Non-Member Couple Feb 12, 2018 $100.00 $0.00

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Event Details

Why Should I Attend This Conference?

The Small Business Administration reports less than 33 percent of family-owned businesses survive the transition from the first to the second generation and only half of those making the first transition survive the transition from the second to the third generation. This means that only about 16.5 percent of family-owned businesses successfully survive to the third generation. 

The Take Root™ Conference has been established by Michigan Farm Bureau to help farmers develop a comprehensive, managed approach for their family farm’s continuation and growth from the roots up – helping ensure that what you’re doing today will create an enduring legacy for future generations. 

The goal of this conference is to help you to develop strategies to grow your business and secure farm assets for future generations.  You will take part in a morning workshop by Iowa Farmer, Author, and Family Business Consultant, Jolene Brown. Jolene has addressed audiences throughout North America and countries beyond. She is a true Champion for Agriculture and is on a mission to bring best practices, appreciation and celebration to the people who feed, clothe and fuel the world. Following Jolene's presentation, you will choose 2 breakout sessions of your choice allowing you to pick and chose the information that is most valuable to YOU.  Various topics include estate planning, succession planning, tax considerations, and forming and operating LLCs. 

The conference will conclude with a professional panel, moderated by Jolene, made up of a tax professional, an investment professional, and an estate planning attorney.  

Agenda

Morning Workshop: "The Positives of Passing It On"

Jolene Brown

Jolene Brown, CSP

 If you want to honor the family while building and transitioning your business, you have important decisions to make and actions to take….starting today. In this upbeat, interactive workshop we’ll learn lessons from successful leaders and managers of a legacy business. It becomes clear they do the work necessary to have a right and experienced leader, create and use specific and realistic management tools, and lay a solid foundation including legal documents to assure peace of mind.

 

Jolene Brown will have you laughing while you learn! She’s an award winning communicator, and an honored recipient of the Certified Speaking Professional, the highest earned designation of speaking achievement worldwide! She’s known as a Champion for Agriculture whether from the platform, in the magazines, on television, or on the radio. She has also received the esteemed Legend of the Speaking Profession award from her peers in the speaking profession.

Afternoon Breakout Sessions

Estate Planning 101

Doug Mielock, Foster Swift
  • Maximize and preserve wealth during lifetime
  • Transfer wealth at death to intended recipients
  • Minimize estate administration expenses
  • Reduce or defer taxes
  • Property Ownership
  • Avoid conflict among family members 
 
Doug Mielock

Farm Estate Planning Tax Considerations

  • Review of current estate tax system
  • Structures for farm transitions
  • Using estate tax rules to create tax benefits
  • Structures to reduce and or eliminate estate taxes
  • Pit falls to avoid in estate and succession planning
 
  Kristiana Coutu
Forming & Operating LLCs

Trent Hilding, The Law Firm of Trent C. Hilding, PLC

Did the accountant, the insurance agent, or the attorney tell you that you need a LLC for your business?   Did you set it up or did you push the issue aside?  This presentation is going to focus on analyzing the “purpose” that should go in the decision making process for determining if you need an LLC for your business or assets.  In addition to helping you understand the use and benefits of the LLC, this presentation will tell you everything you need to know to form, file, and initiate an LLC correctly so that your lenders and insurance agents can easily identify with the new operations.  We will discuss the basic documents and formation tips that you miss from internet formation sites.   Beyond the basic agreements involved in formation, this presentation will touch on taxation, budgets, leases, accounting, insurance and other matters that must be completed as you change your business to an LLC.    The goal is not to confuse the lender or create an IRS audit.   This presentation will have tips to keep you on tract of preventing both.   The mechanics of operating a new business structure can be confusing and often times a lot of items are missed in the set up.  This presentation will provide you with items that need to be considered for operating the new LLC so that you can gain the maximum benefit from establishing the new business.   We will look at the realities of business failure, or disassociation of members and how to protect the business and the members in those situations.   Have the operations of your LLC figured out?  If not, be sure to attend to make sure your operating structure is in place and operating for the intended “purpose.

 
Trent Hilding

Succession Planning 101

Dean Reisner, Varnum 
  • Farm Transfer Factors & Strategies; Distribution Issues with Farming and Non-Farming Beneficiaries; Buy/Sell Agreements; Choosing the Best Business Structure; Building a Management Team; & Communication. 
 
Dean Reisner






 

 

Professional Panel

Enjoy a professional panel made up of a tax professional, a lawyer, and a financial advisor moderated by Jolene Brown.  


Have questions about 2018 Take Root Conference ? Contact Michigan Farm Bureau

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When & Where


Crowne Plaza Lansing West
925 South Creyts Road
Lansing, MI 48917

Monday, February 26, 2018 from 8:30 AM to 4:00 PM (EST)


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Organizer

Michigan Farm Bureau

Michigan Farm Bureau is the state's largest general farm organization. As a general farm organization we represent the wide variety of commodity sectors that make up Michigan's agricultural diversity. 

Our mission is to represent, protect, and enhance the business, economic, social and educational interests of our farmer members.  

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