PUBLICATION SP822A

Farmland Legacy Series: Chapter 1 Why Succession Planning?

Publish Date: April 05 2021 |  Language: English

DOI: doi.org/10.7290/UTIAPub/SP822A

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If you have questions about this resource, contact your county Extension office.

Summary

Guidance for Tennessee farm families on planning the transfer of a farm to the next generation, with information on communication, estate planning, business structure, retirement, record keeping, and working with professional advisors. Emphasizes that succession is a long-term process involving both family and financial decisions, aimed at preserving the farm, supporting retirement, and improving the chances of a successful transition.