Family Farm Succession: Navigating Sibling Dynamics, Land Transfer & Estate Planning ( Ep 91)

In this episode of Beyond the Crops, Jena and Mary Pat dive back into the important topic of succession planning with succession expert Ashlee Westerhold. They discuss what to consider when planning for the future of the farm, whether passing it down to the next generation, skipping a generation, or connecting with interested individuals outside of the family.

Join us as we learn more about practical tools for succession planning, valuable advice, and steps to take as you start thinking about the future.

📌 What We Cover in This Episode:

✅ Introduction to Ashlee Westerhold, Director of the Office of Farm and Ranch Transition at Kansas State University.
✅ Ashley’s story of how personal experiences led her to a career in farm succession planning.
✅ What tools the University offers to farm families and students.
✅ A deep dive into the Kansas Landlink program, a matchmaking process for landowners without successors and beginning farmers/ranchers.
✅ Parameters for seekers to share with potential landowners via a 12-page application process.
✅ Best advice for farm families just beginning to think about transition planning, focusing on goals and vision.
✅ The importance of including your spouse in transition planning and the legal implications.
✅ Discuss bringing in an accountant or attorney.

💡 Key Takeaways:

✨ You are always transitioning. Planning should always be ongoing.
✨ Goal setting and vision are essential building blocks to starting the transition process.
✨ It is essential to find an attorney you can trust, who understands agriculture and the emotion that comes with the land and the farm.
✨ Protecting your whole operation is less than what you would pay for a tractor tire.
✨ Succession Estate plans change.
✨ If you're the one carrying the torch, then you should be the one working on this; try to help them through this because it is overwhelming.
✨ Put It In Writing

LINKS

Kansas Land Link Program: https://www.agmanager.info/farm-management/transition-planning/kansas-farm-link
University of Wisconsin: Cultivating Your Farm’s Future

🙌 Join the Conversation!
We’d love to hear from you! What are some takeaways you had about the episode? Share with us on social media and tag us @‌beyondthecrops_.

🎧 Listen Now on Apple Podcasts, Spotify, or wherever you get your podcasts!

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