When It Comes to Farm Succession Planning, You Must Be Willing to Ask For Help
Passing down the farm is a many faceted equation, and because it is unlikely that you have already been through it recently, it will require you to ask for help from those likely to know more than you. It includes elements of strategic planning, farm succession planning, and farm estate planning. Are you willing to set your ego aside and ask for help or not?
Farmers need to look at what’s working and what’s not in order to better understand which past, present, and future actions are the most likely to take their farm in the direction they want it to go. Add to that the creation of policies, practices, training, tactics, and actions that will result in your next generation being able to lead and manage the farm in the future. And putting it all together with the documents required to add the force of law necessary to ensure it all happens.
It goes without saying that no one knows all that needs knowing on their own, enough to cobble together all these elements in an overall process that will result in the seamless transition of your farm over the years to the next generation.
The $64,000 question, “Who should I ask for help?”
