For many farms, transferring the farm to a next generation is the ultimate legacy goal, especially when transferring within the family. But it’s not all rainbows and roses. Farmers focus on the technical details of transferring assets, much like machinery repair: if you put the right nut with the corresponding bolt … voila, you have a plan. But succession planning involves humans, with corresponding emotions. Research around farm succession has identified several “tensions” that can cause stress during the planning process. Those areas of tensions include:
- Financial concerns
- Control
- Change
- Inheritance distribution
- Communication
If farm families/farm partners can identify their potential tensions and approach the plan with their tensions in mind, they can avoid some of the common “stalls” or pitfalls many farms face. This webinar will discuss these tensions and ideas on how to address them, including the value of a facilitator to help navigate potentially stressful but necessary conversations. Continue reading
In a recent article from the American Farm Bureau, a strong majority of farmers/farmworkers say the pandemic has impacted their mental health. The article states that more than half say they are personally experiencing more mental health challenges than they were a year ago. This is all according to an