Service offers help on succession planning

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News

April 30, 2018 - 11:00 PM

Carla Nemecek

Extension Agent for Agriculture

Kansas farm and ranch families are always looking at best options for feasibility and profitability. They attend educational meetings, try out new practices, assess any risks involved and talk with their neighbors or consultants. They make numerous day-to-day decisions that affect their operations both now and in the future.

Sustainability of a farm or ranch also depends on whether a family has planned for succession. The average age of U.S. producers continues to rise and families will need to explore options for the transitional feasibility of current and future operators. Succession planning is a step-by-step process in which families work together to develop a plan to incorporate the next owner and pass on knowledge and resources that will sustain the operation.

Farm and ranch families may be uncertain how to begin developing a succession plan and may need guidance moving forward. This is where a succession planning facilitator plays a key role.

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