Building a Farm Succession Plan #1: Where to Start

Succession planning often begins with a legal document, but that document is only one piece of a much larger process. In the first episode of this five-part Nebraska FARMcast series on building a farm succession plan, Anastasia Meyer, Extension agricultural economist with the Center for Agricultural Profitability at the University of Nebraska-Lincoln, explains why a good plan is really a transition plan, one that unfolds over three to five years or more. She covers the conversations families need to have, the fears both generations bring to the table, and the team of professionals, from an ag-focused attorney to a tax adviser and lender, that a farm or ranch family should assemble before making decisions.Produced and hosted by Lexi Bodlak, Nebraska Land Link Program Intern.Find resources for farm and ranch transition and estate planning on the Center for Agricultural Profitability's website, https://cap.unl.edu/succession.