Marketing and Planning Presented by Scott P. Miller, Attorney Miller Legal Strategic Planning Centers, P.A. Farm Succession and Transition 1

Where to Market Who has the clientsWho has the clients -Banks -Accountants -Farm Business Managers -Financial Advisors -Insurance Professionals (Life and P & C) 2

What you need to know Key Strategies for Farm Succession/Transition PlanningKey Strategies for Farm Succession/Transition Planning -Understanding of the current Farm Bill -Understanding of the different issues facing different farm operations (Dairy, Hogs, Cash Crop, Cattle, and Ranches) -Understanding of succession and transition planning (Exit Strategies) -Understanding of Estate Planning -Understanding of the Emotional Issues 3

What you need to know Key Strategies for Farm Succession/Transition PlanningKey Strategies for Farm Succession/Transition Planning -Custom Design and Team Approach -Dealing with the Equalization Issue -Keeping the Farm in the Family -Issues for Transferring the Farm Land -Issues for Transferring the Farm Business -Different Strategies to Make this Happen -The Key is Problem Solving (Don’t be the Widget Salesmen) 4

How to Market for Farm Succession/Transition Work Marketing Strategies and TechniquesMarketing Strategies and Techniques -Put yourself out there as the expert -Teach the strategies to the client’s advisors -Make yourself available to the client’s advisors -Swim where the clients swim -Look for joint marketing with the client’s advisors -Retail workshops can still work 5

How to Market for Farm Succession/Transition Work Types of Workshop and Educational ToolsTypes of Workshop and Educational Tools -The Planning Wheel -Farm Succession/Transition Strategies -Entity Selection for Farmers -Exit Strategies for Farmers Without Farm Children -Estate Planning Issues for Farm Family -Family Harmony Techniques for Farm Transfers 6

Planning Wheel Basics Essential Strategies Common Strategies Advanced Strategies 7

Essential Planning Strategies Eight Core Strategies That are Essential in Any Effective Farm Succession or Transition PlanEight Core Strategies That are Essential in Any Effective Farm Succession or Transition Plan The Core or Center of the Wheel 8

Common Planning Strategies Ten Commonly Used Advanced Strategies in Farm Succession and Transition PlanningTen Commonly Used Advanced Strategies in Farm Succession and Transition Planning The Blue Ring of the Wheel 9

Common Planning Strategies Operating Company Choosing the Correct Operating Company Based on Client Goals and CircumstancesChoosing the Correct Operating Company Based on Client Goals and Circumstances –C-Corp –S-Corp –LLC (Limited Liability Company) –General Partnership 10

Advanced Planning Strategies 18 Highly Specialized Strategies Used for Clients With More Advanced Planning Needs18 Highly Specialized Strategies Used for Clients With More Advanced Planning Needs The Outer Ring of the Wheel 11

Any Questions? Thank you! Please call us for help with any of your client needs. Miller Legal Strategic Planning Centers, P.A. 191 N. Tyler Street Tyler, MN www.millerlegal.com 12