“10% of Farmland Expected to be Transferred by 2019.” This is the title of an article on the Wisconsin Ag Connection website that points out the overall advanced age of U.S. farmers. Approximately a third reached the age of 65 in 2014. By 2019 farmland owners are projected to transfer 93 million acres, mostly though […]
Category: Multigenerational Farming
It’s never too soon to decide who will care for the family farm when you are ready to pass the torch to the next generation. Unfortunately, it is a conversation all to often postponed until it’s too late. A recent article on estate planning notes that, “Individuals put off estate planning because they think they don’t own […]
Handing down the family farm through the generations has been a long-honored tradition for many families across the United States. It offers a nostalgic image that at one time could be considered living the American dream. Nowadays, though, there are indications that this isn’t happening as often as it used to. The simple fact of […]
It’s a common tradition in the farming industry that estates are passed down within the family to continue production for upcoming generations. It used to be as simple as signing over the deed to your children, and then they simply took over. Today, however, with the numerous estate laws now in place, retiring farmers need […]
“It’s not what you have when you leave this world behind you… it’s what you leave behind you when you go.” – Randy Travis The fresh morning air, the way that the grass always feels wet right before the sun comes up even when it’s not raining and the clean smell of harvest and happiness […]
Keeping a farm in the family through several generations takes good planning, excellent communication and more than a little bit of luck. Often succession planning is not considered early enough by either generation. Often, families “talk”, but not about the business of the farm and it’s future. Fathers do not know if their offspring are […]
Do you have a succession plan in place for your farm? Most businesses have succession plans in place to help ease the transition when the current leadership steps down, but we don’t often hear about farmers making succession plans, and as we know, farms are businesses. A succession plan is a plan identifying internal talent to […]
Family farming is one of the most challenging and rewarding professions there is. Farmers are more connected to nature than most people. Farmers understand the complexities of working with their land to produce food for our nation. Multi-generational farming passes on the knowledge, wisdom, and traditions to the next generation. But what can farmers learn from the next generation […]
Family farms have been disappearing over the years, with the number of dairy farms dropping more than 90% since 1970. There are many benefits to having a family farm, which we will take a look at here. The Animals A love for animals is a key factor for many who become farmers. Having the patience to care […]
Multigenerational Farming offers the chance for a younger generation to reap what’s been sowed by their parents and grandparents. Although there are always new machines and techniques to make farming less labor intensive and more efficient, these new-fangled methods could also have unforeseen consequences. This article touches on two examples where the new generation of farmers […]
