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Resource Library : Succession/Transition

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Succession/Transition

Just Released, July 2013:
Planning the Future of Your Farm
A Workbook Supporting Farm Transfer Decisions

Planning the Future of Your Farm is a workbook for those families who want to keep their farmland in production and/or “in the family” as it passes to the next generation. The workbook is for those willing to commit the effort required to manage such a ongoing project. It has been updated and adapted for Pennsylvania from previous editions published from Georgia to Virginia. Feedback from families using earlier versions has been incorporated into this edition.

Planning the Future of Your Farm, 2013 Planning the Future of Your Farm, 2013 (9751 KB)


Ag Transitions (University of Minnesota) https://www.agtransitions.umn.edu
AgTransitions helps farmers & ranchers develop a plan to transition their business to the next generation.

International Farm Transition Network (IFTN) http://www.farmtransition.org
The goal of the network is to support programs that foster the next generation of farmers and ranchers.

Iowa State University Extension Beginning Farmer Center www.extension.iastate.edu/bfc
Programs and services that develop skills and knowledge in financial management and planning, legal issues, tax laws, technical production and management, leadership, and sustainable agriculture.

Planning the Future of Your Farm (Virginia Edition) http://pubs.ext.vt.edu/446/446-610/446-610.html
A workbook supporting farm transfer decisions. Created and edited by Robert Andrew Branan, Attorney for the Virginia Department of Agriculture, Virginia Cooperative Extension, Virginia Tech, and Virginia State University. Please ensure you seek professional input for your state of residence in regards to information that changes across state borders, i.e. tax information.

Succession/Transition Facilitators

The following professionals have placed their names on this professional list indicating a desire to work with farmers and/or farm businesses. The list is provided for your convenience. Name/Company appearance on this list does not indicate an endorsement by PA Farm Link.The answers to the questions may help you determine how much experience they have with farm businesses and farm related work. As always ask for references and/or ask colleagues and trusted farm business owners who they recommend.

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Region 7

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Documents:

Planning the Future of Your Farm - A workbook supporting farm transfer decisions.

Before You Transfer - Answer these questions honestly before you start the transfer process.

Business Transition Plan - Checklist of potential objectives to incorporate into the business transition plan.

Children as Partners - An honest evaluation to know if this is a possibility for the farm.

Conservation Alternatives - Voluntary conservation easement options for your farm.

Developing Your Agreement - Items to include in your business agreement

Estate Planning Primer - a list of family objectives to consider, others maybe included as well.

Family Farm Questionnaire - Items to consider as you consider transfer of the farm.

Harmony Test - Questionnaire to evaluate areas which may need work.

Hiring - Items to have in place to assist with hiring.

Orderly Exit - Items to consider as you consider exiting farming.

Parents as Partners - An honest evaluation of the possibility of partnering with parents.

Retirement Planning - Items to consider while planning for retirement.