Building a Farm Succession Plan #3: Transferring Management
A farm can pass to the next generation on paper long before the next generation is ready to run it, and that gap is where transitions break down. 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, breaks succession into three parts: labor, management and ownership. She explains why management is the hardest piece to hand off and the easiest to skip, and how bringing an heir into bank meetings, insurance meetings and smaller decisions early builds the experience they'll need before ownership ever changes hands.
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.
