Navigation


With support from:
You are here: Home → PLANNING THE FUTURE OF YOUR FARM Resource Library → Elements of a Written Farm Succession Plan
Document Actions

Elements of a Written Farm Succession Plan

by admin — last modified 2006-07-21 12:31

A written Farm Succession Plan should incorporate tools to address the following:

  • Meet the financial, health and long-term care needs of the senior generation without looking to liquidation of farm operating assets
  • Assure adequate farm income sharing between generations
  • Meet the inheritance expectations of off-farm family members without giving them alienable ownership interests in farm assets
  • Transfer farm assets to the succeeding farm operator without unnecessary tax liability
  • Pass farm management responsibilities to a successor in a manner that cultivates solid farm management skills
  • Address the contingencies of death, disability and divorce of key members of the farm business
    		•
    « July 2008 »
    Su Mo Tu We Th Fr Sa
    12345
    6789101112
    13141516171819
    20212223242526
    2728293031
     
    Powered by Plone site by netCorps