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Planning for Family Financial Future Workshop Series

Join us for a comprehensive financial planning workshop series including estate planning, trust management, retirement strategies, and more. Engage with local experts and fellow attendees for an interactive learning experience. Hosted by professionals in Michigan and North Dakota.

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Planning for Family Financial Future Workshop Series

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  1. Managing for Today and Tomorrow Roger Betz Michigan State University Extension

  2. Beta Test - Michigan • Jan Feb 2012 • One night per week • Added additional night for total of 5 • snow date that we didn’t use • Dinner 5:30 pm • Program 6:00 pm • Done by 9:00 pm • 10 People

  3. Thoughts/Observations • Hard to get people to commit but max of 20 • Always problems of a few people missing sessions – catch up • Allow/encourage time for interaction – critical • Exercises, breaks, open discussion, questions • Make room comfortable for conversation • Do not use “class room” style • Round tables with 4-5 per table

  4. Need to have Mix of Presenters(at least two per night, women preferred) • Extension Educators • Local Estate Planning Attorney - • Local Bank Trust officer - Trust • Life Insurance Agent – Caution • Probate Judge- usually very good - Probate • Investment Agents – Merrill Lynch -retirement • Local Loan officer

  5. Need to Adapt to your State • Probate is state law and different in each state • Probate Judge • Ask Local Attorney to review materials, terminology and then present some material one or maybe two nights. • Adjust the materials as needed

  6. Comments • Very good program • Warren Schauer - This summer 1 session • Planning for this fall and winter 3 sessions • Work with Farm Bureau Young Farmer Program • Important for one Extension person to attend all sessions - continuity issue • Ties into “The Legacy Project” • Husbands/men last session?????? • My bias is no

  7. Roger Betz Sr. Dist. Extension Farm Management 315 West Green Street Marshall MI 49068 WEB PAGE: http://firm.msue.msu.edu/ Email: betz@msu.edu Cell Phone 517 230 0110

  8. Managing for Today and Tomorrow in North Dakota Lori Scharmer North Dakota State University Extension Service

  9. North Dakota • Annie’s Project • Offered 7 years, 71 sites, 966 participants • Single Gender

  10. North Dakota • Farm/Ranch Transition Planning • Offered 4 years, 57 sites, 996 participants • Couples and multi generation families

  11. North Dakota • Managing for Today and Tomorrow • Offered 1 year, 2 sites, 14 participants • Single Gender

  12. North Dakota The Future • Design Your Succession Plan (New) • Couples and multi generation families • Define the process and terms • Communication with family • Conversation starters • Talking about the tough issues • Choosing and working with professionals

  13. Lori Scharmer, Interim Family Economics Specialist NDSU Extension Service p: 701.857.7682 / f: 701.857.7676/ m:701.833.6064 lori.scharmer@ndsu.edu

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