Tips for Transferring the Farm to the Next Generation

From the Editors:  Farmers are staying on the farm because, well, they're farmers.  True, machinery has made it easier to work longer, and the economic incentives are greater than they've been in years.  But maybe the most important reason is that being a farmer is not just a job.  "That's who they identify themselves as," says Mike Duffy, an agricultural economist at Iowa State University.  He adds "They'll leave horizontal." If you're not one of those who plans to leave the farm or ranch horizontal, and you have a son or daughter interested in following you in the family business, you might be looking for some tips and hints about how to move into retirement while successfully passing on the farm.  Bob Parsons, University of Vermont Extension Agriculture Economist, specializes in helping families make the switch.  Here are his recommendations from a February 21, 2012 episode of  "Across the Fence." Numerous Extension educators and lenders have worked with farmers over the years and have seen many family farm business transitions work and many fail. From these observations, I want to present some steps that we have observed to more

All the grazing management tips you need

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