Planning for the Successful Transition of Your Agricultural Business

As the age of farm operators increases, transferring the ownership and management of the family business to the next generation will become one of the most important issues farm families will face. While many farmers dream of seeing their legacy passed on to the next generation, many postpone initiating a plan for the transition of their business for a variety of reasons. Many claim that there is not enough time to discuss these matters. Or if planning does occur, it simply involves the senior generation drafting a will describing how the farm assets should be divided among heirs.

Downloadable Documents: 
Author: 
David L. Marrison
Publisher: 
Jefferson, OH: Ohio State University Extension, Ashtabula County
Page Numbers: 
4
Publication Date: 
September 1, 2007
Literature Category: 
Fact Sheets and Technical Memos