Communication and planning are keys to transition success

It's not uncommon for families to experience a lot of tension and worry about the future of their farming operation. If you're moving forward without a solid transition plan, that stress is understandable. Whether you are a member of the current, older generation or someone who will one day inherit the operation from your elders, not having a plan in place that everyone understands, is sure to be a source of consternation.

Both generations are undoubtedly filled with questions around money, retirement, transition timelines, taxes, emotional and physical involvement... the list goes on. The issues that are bugging you might be tough to bring up to the other generation, particularly if you are of the younger set--you don't want to seem disrespectful. But they are all issues that have to be tackled in order to fulfill the legacy of the farm, and that's what everyone's goal is in the long run--to see the operation succeed well into the future.

Jason Ladman shares some ideas and reassurances to help you take the steps needed to transition your farm into the future.