Easy Questions for Farm Succession

What have you done to line up your farm transition? Remember, this is a life process, not a single day event! Here are ten simple questions to get you on the path for successful farm transition. Have you discussed farm transition with your spouse? Remarkably, few spouses discuss what they would like to do as they get older, and few consider or talk about what they each may want to do in retirement and what is their idea of retirement. Have you discussed farm transition with your family? Most families fail to discuss what they may want to do with the farm or farm business. Some children don’t want to bring up the topic of Dad or Mom’s possible death or physical inability to keep farming. Who is your successor? Have you identified a successor? This is why a family discussion is important to know if anyone in the family is interested in the farm business. If not, is there a non-family member interested or will the decision be to sell all farm assets when its time to call it quits? It helps know sooner rather than later if any family member is interested. Have you discussed farm transition with an ag professional (Extension, lender, land trust, etc.)? Discussing the situation with professionals who have seen what others have done can be helpful and usually provides some valuable ideas! Have you attended any events on farm tra

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