Chapter V: Farm Transition
There are many multi-generational farms in operation today. One of the most overlooked aspects of farming is what happens to the farm when the person who currently makes the major decisions decides to retire or passes away. Effective transitional planning can help to alleviate the obstacles that your successors will face, while ensuring the continued financial health of your family and business.
AgTransitions
This site is a tool for drafting your farm transition
plan.
Center for Farm Transitions
Information, referrals and consultations to farmers for plans that will secure and maintain farming’s important role in Pennsylvania’s economy.
Discussing Farm Transfer
An exploration of farm transfer topics through the use of
hypothetical scenarios.
Family Farm Business
& Financial Planning
A flow chart outlining
the steps involved in business and estate planning.
Family
Farm Forum
A
discussion of issues and programs affecting family farms, with many
links to programs and articles from throughout the United
States.
Farm Succession
Planning – Conversations to Strengthen Farm and Family
Communication tips for discussions about farm transition.
Family Farm Succession from the University of Vermont
Videos and course for farm transition planning.
Farm Transfers in
Wisconsin: A Guide for Farmers
This detailed guide
covers the transition process from beginning to end.
Intergenerational Programs & Aging
A site that provides
information about programs offered and articles relating to farm
transition.
Risk Management Checklist
This is a checklist
covering many aspects of agricultural production as well as questions
regarding estate planning and farm transition issues.
Should
Potential Long-Term Health Care Needs Be a Part of Your Farm Estate
Plan?
This article covers the
aspects of long-term health care on the transfer of the farm.
Ten Rules of
Transition Management
Ten rules for
transitioning the farm by Dr. David Kohl
UMN Extension: Estate Planning
his site is a
multi-chapter series covering estate planning topics.
UMN Extension: Transferring the Farm
This site is a multi-chapter series covering farm transfer topics.
What Will Happen to the Farm?
An
introduction to the issues facing many operations when beginning to
consider transitioning the farming operation to the next generation.
Who Gets Grandpa’s
Farm? Considering Farm Succession Planning
This article contains results from a survey of farmers and their
families, as well as advise for tackling succession issues.
