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How to start farm succession planning
Estimated time: 30 minutes
Why is this important?
Farm families risk losing their farms when estate and farm succession planning is nonexistent or stalled. Planning ahead can make farm continuation possible…protecting the land and ones legacy while minimizing tax consequences and inheritance issues.
Steps to take
1. Complete this brief questionnaire.
Complete this online Estate and Farm Succession Planning Questionnaire regarding your own expectations for your farm. If the answer to question 1 is “yes” and you’ve answered “No (or don’t know)” to any of the others, take time to learn more about estate and farm succession planning.
For more questions related to farm succession planning risk management and to obtain your personal “risk level” go to Farm Succession Risk Management Checklist Online
2. Hear from other farm families.
Meet three farm families who started 8-10 years ago addressing the issue of estate and farm succession planning:
3. Who to contact
For additional information on estate and farm succession planning contact the Extension Agricultural Business Management Specialist in your state or email
Mike Sciabarrasi at the University of New Hampshire Cooperative Extension.
4. Review additional resources
Visit Farm Transfer Network of New England to access a network of professionals and organizations offering you special expertise and resources in farm transfer and succession. Website organized to help one farm generation or owner pass the farm on to another.
- How to talk about succession planning
- How to transition from discussion to documentation
- How to plan for life after farming
Click here to take survey After completing this short survey, click on DONE to return to the Family Farm Finances website.