by Amber Roberts, Extension educator
Transitioning the farm business to the next generation is a process that tends to occur over a number of years and is a serious undertaking. The entering generation needs to learn how to manage the business and establish their financial position. The retiring generation needs to be willing to turn over control of the farm businesses and trust that their successor will do well. Less than 1 in 3 farms are able to successfully transition to the next generation, went not done properly, there can be serious financial and relationship consequences.
This webinar will help prepare farmers and landowners by discussing the five main areas to discuss prior to beginning your transition process. You can take the virtual 'Getting Started' quiz which will provide immediate individual feedback and can create a report comparing your transition member's responses at https://z.umn.edu/TransitionGettingStarted.
