Building a Farm Succession Plan #4: Sunset Planning
Most farmers and ranchers never plan to fully retire, which is why Jessica Groskopf calls this stage sunset planning rather than retirement. In the final episode of the five-part Nebraska FARMcast series on building a farm succession plan, Groskopf, Extension agricultural economist at the University of Nebraska-Lincoln, looks at what it takes to shift from owner-operator to owner. She covers the financial questions to work through with an ag-savvy financial adviser, why long-term care is one of the biggest concerns families face, and how renting out land in retirement can affect Social Security benefits.
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.
