Tensions of Farm Succession

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.

Our Presenter:

Joy Kirkpatrick has worked for the University of Wisconsin for 28 years. She began her Extension career as a county-based educator. In 2004 she became the farm succession outreach specialist for the University of Wisconsin’s Center for Dairy Profitability. In this position she collaborates with colleagues to provide educational programs and information on farm succession planning. Kirkpatrick has extensive experience facilitating farm succession discussions with farm businesses and farm families. Joy is honored to work with farm families on some of their most personal issues when working on farm succession planning. She has written articles on retirement planning for farmers and taught seminars throughout the US on farm succession facilitation. Kirkpatrick developed the Certified Farm Succession Coordinator training that has certified over 300 participants in farm succession planning. She is a certified Mental Health First Aid trainer. Kirkpatrick received both her BS and MS degrees from SIU – Carbondale.

A question & answer period will follow the presentation.

This webinar is free. Register by February 18 to attend.