As a new year begins, families are busy planning for special occasions, sporting events, holidays, and more. But something else to think about when it comes to planning is the success of your farm or operation for the next generation. This can be done through succession planning.
Dr. Ron Hanson, Harlan Agribusiness Professor Emeritus, University of Nebraska-Lincoln, was a guest speaker on the Ohio Farm Bureau Podcast about his upcoming opportunity to speak at the 2025 Ohio Farm Bureau Winter Leadership Experience regarding succession planning. Planning for the future of your farm can often be a very rigid experience. Dr. Hanson helps counsel farm families to resolve conflicts while helping the next generation assure their financial future on the family farm while also assuring the generation aging out that the legacy will continue.
“One of the challenging questions I will ask is, if something happened today, unexpectedly and suddenly, does everyone in the family know and understand what happens tomorrow?” Hanson said.
Less than 20% of families have a succession plan in place, according to a recent market study. While these conversations can be emotional and challenging, it can be the most important decision you make for the future of your operation.
Winter Leadership Experience conference attendees will be able to network with Dr. Hanson about this subject during his session at the Winter Leadership Experience. New this year, members of all ages are welcome to attend, providing a great opportunity for multi-generations to attend, learn and begin planning for the future of their family farms and legacies together.
Interested in learning more about succession planning?
Nationwide’s Land as Your Legacy program provides families with the resources needed to preserve the land and businesses they have worked hard to build for generations. A Farm Bureau family in Jefferson County had great success with the program. Read about their experience here.
Feb 7-8, Kalahari Conventions and Resorts, Sandusky. Registration due Jan. 22
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