Do I Even Need Farm Succession Planning?
- Plan Wise Legal
- 7 days ago
- 3 min read
Understanding Why Planning Matters for Your Farm, Your Family, and Your Future
Farming is more than a business — it’s a legacy. It’s early mornings, family memories, and years of hard work. But when it comes to passing that legacy on to the next generation, many farm families pause and wonder: “Do I even need succession planning?”If you’ve asked that question yourself, you aren’t alone — and the answer is more important than you might think.
What Farm Succession Planning Really Means
It is a thoughtful process that helps you:
Clarify your wishes for the future of your farm
Open honest communication with family members
Protect your assets for the next generation
Preserve peace and relationships during transition
Minimize tax risks and legal complications
You Don’t Have to Have All the Answers to Get Started
The good news is this: farm succession planning doesn’t require you to have everything figured out on day one. It requires a clear process, the right guidance, and a plan that reflects your goals—so your farm can move from “we should do this someday” to “we have a roadmap we feel good about.” With many years of combined experience, we are here to guide you with a clear, step-by-step process.
The most important first step is clarity:
What do you want to happen to your farm?
Who wants to be involved?
What is each person’s vision for the future?
You don’t need perfect answers — you just need to start the conversation.
Why Planning Matters & Why it Matters Now (Not Later)
One of the biggest reasons farm succession planning is important now (not later) is something many families don’t consider until it’s too late. Illness. Injury. Sudden death. Cognitive decline. Divorce. Economic shifts.
These things happen without warning — and when they do, if no succession or estate plan is in place, the farm can enter legal limbo almost overnight.
1. Protecting the Farm and it's legacy.
In a recent article from the USDA / Farmland Transition Estimate - it states "Much of U.S. farmland - estimated at over 70% - will pass to new owners in the next two decades."
If no plan exists, land can be divided unintentionally, inherited by a non-farm heir or someone who may not be interested, or sold off to pay for estate taxes or settle disputes. All in all, a structured plan not only respects the preservation of the land, but also notes your families intentions for it.
2. Reducing Family Tension & Misunderstanding
Remember in the paragraph before how we mentioned no plan can create unintentionally dividing of assets? Farm Succession Planning is both paperwork and people work. Conversations about who will take over, who wants to stay involved, and how decisions will be made can be emotional. But avoiding those conversations doesn't make the decision go away.
Experts UWE wrote an article on family dynamics in succession planning. Describing succession planning as at times, a bit"messy" - not because it is complicated, but because it involves multiple family members - and people can be complex. At Plan Wise Legal we have years of experience in creating Farm Succession Plans, and based on your individual dynamic, we have the advice and know how for the situation.
What do Farm Succession Plans actually include? In most cases, a Farm Succession Plan works together with multiple tools. Often times, we will go over several categories;
Wills & Trusts
Buy-Sell Agreements
Operating Agreements
Gifting Strategies
Estate Tax Planning
Powers of attorney & health care directives
The mix depends greatly on your situation - which is why it is recommended working with an experience attorney like Plan Wise Legal.
Taking the First Step Toward Peace of Mind
Starting the journey is the right step — even just talking through your situation with a professional like Plan Wise Legal brings clarity by gathering financial documents, setting goals, and having honest conversations with loved ones.
Remember, this is a process we can revisit and adjust as life changes. The key is to stay proactive and informed.
If you need guidance in estate planning, elder law, and business planning, we off a Free Initial Consultation and can provide clarity and confidence. We can help you tailor a plan that fits your unique family needs and regional considerations.
Together, we can build a future where your family thrives, no matter what comes your way.
Comments