Farm transition planning is an important part of your farm. The goal is often passing the farm on to the next generation to manage. But this can be a difficult process that will require a great deal of communication, financial considerations, and business planning. This transition plan will require some work from you and those who will take over the farm.
We realize many of you may not want to begin thinking about this, but it is essential to ensure that your farm will continue on with the next generation.
Resources available to assist you include:
Recorded Webinar - Family Farm Transition Webinar presented by Shannon Ferrell, Associate Profession, Oklahoma State University Department of Agricultural Economics. Recorded on June 9, 2015.
Directory of Maryland Attorneys Specializing in Agricultural Law - (as of June 2015)
AgTransitions - University of Minnesota's Center for Farm Financial Management. A tool to provide farm families to begin developing their transition and estate plans. Allows you to share the information you input with professionals you are working with.
Oklahoma State Farm Transition - provides a wealth of resources to aid you in developing your transition plan.
Transition Planning: 12 Steps to Keep the Family Farming - Kansas State University.
Farm Transition and Beginning Farmer Resources - Iowa State University