Building a Farm Succession Plan #2: Business Planning and Family Meetings

Before a farm or ranch moves to the next generation, families have to answer a hard question: is the operation viable enough to support another household? In this episode of the 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, walks through business planning and the family meetings that make a transition work. She covers how to talk openly about financials and debt, who to invite to the table, and the ground rules that keep those conversations productive when the subject matter gets personal.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.