Transitioning a farm from one generation to the next is a many stepped process, some of which are legal or financial, but many more of which are personal, interpersonal, and emotional. And that can make this work really, really hard.
Today, DTN Special Correspondent Elizabeth Williams joins to talk more about her series on the process of succession planning. She’ll share wisdom she’s learned in her reporting, discuss the advice she’s heard from experts advisors and farmers who have been through the process themselves alike, and point listeners to valuable resources as they wade into their own planning journey.
We’ll discuss communication and fairness between on farm and off farm heirs, how to compensate recent returnees to the farm, and how to invest in the skills and abilities needed in the farms future leadership.