succession planning

Christmas tree growers of today are worried that as they retire, there are no younger growers lined up to take over. Gary Crawford has more. If you have a story idea for the PNW Ag Network, call (509) 547-1618, or e-mail gvaagen@cherrycreekmedia... Read More ...

As farm families gather for the holidays, it’s a good time to reflect on the past and look to the future. Long-term success of your farm and passing it to the next generation requires careful planning. The AARP’s Sean Voskuhl says its best to not put off starting your estate plan. “Th ...

When it come to passing the farm from one generation to the next, there could be some challenges for both sides in making a transition work. But as University of Minnesota Extension's Jim Salfer notes, one factor not given much consideration when such a succession takes place is the emotional investment made by the incumbent farmer regarding their operation ...

Nationwide, the number of farm transitions has increased in recent years. Yet questions remain for both younger and older generations considering this process. The University of Minnesota's Jim Salfur said, for example, one of the biggest questions out there is how can a beginning farmer without a home farm get in to the business ...

Transitioning a farm from one generation to the next has been challenging for a variety of reasons since the profession started. But farms that fail to plan for the future often fail in a variety of ways. To help make that transition from the current generation to the next a bit easier, the Washington state Farm Bureau is working with a new program call ”Coming Home to Farm”, to promote an open

The American Farm Bureau Federation continues to remind lawmakers, and the general population that proposals to eliminate stepped-up basis would have devastating consequences to farmers and ranchers. Farm Bureau member Mike Brundige, a 4th generation farmer from Tennessee, said eliminating the stepped-up basis would prevent him from passing his farm on to the 5th generation ...

As the average age of the American farmer continues to increase, what’s being done to transition farmland to the next generation? Ashlee Westerhold, economist with the University of Idaho Extension, said it’s vital that today’s farmer understands if children or grandchildren are interested in returning to the farm and running day-to-day operations. She noted, rega ...

Retiring farmers using auctions as part of the succession plan have several things to do in preparation. Auctioneer, Mark Stock, said when setting the time and date of the auction, be sure to give enough prep time for everyone involved, both on the seller side and potential buyer ...

More and more retiring farmers going are the auction route as part of their succession and transition plans. But as Rod Bain points out, farmers that look at the auction route have several things to consider and prepare for prior to sale day ...

It may be an uncomfortable topic, but one more and more farmers need to have. Succession planning. What happens to the farm after the current generation no longer wants to, or can no longer perform the day to day operation? Dick Wittman of Wittman Consulting in north central Idaho said the first step to proper succession planning is to reevaluate the definition of success ...