Key Takeaways:
  • Succession planning isn’t about giving up control, it’s about preparing people early so the farm can transition smoothly and confidently.
  • Starting honest conversations now reduces future conflict and turns a difficult handoff into a manageable, team-driven process.
  • The strongest succession plans are customized, forward-moving roadmaps that protect the legacy while setting the next generation up to lead well.

 

As a farmer, you have poured your heart into your operation—years of early mornings, late nights and tough calls have built something worth preserving. But as Dick Wittman, a respected voice in family business management, once said, “There are very few decisions in family businesses as difficult as selecting a successor to take over the reins of management.”

With the average farmer now 58 years old, the question of who will carry on your legacy isn’t just a “someday” thought—it’s a pressing reality. That’s where succession planning comes in, and it’s not as daunting as it seems.

Think of it like a relay race: the baton passes smoothly when everyone’s running together, communicating and ready for the handoff. It’s about co-creating a future where the next generation is ready to own and operate the farm with confidence. Unlike estate planning, which focuses on wealth transfer, succession planning is about preparing people, not just assets. It’s about starting the conversation, setting clear expectations and building a roadmap that respects your legacy while empowering those who’ll follow.

Why Succession Planning Matters

If you have ever hesitated to broach the topic of succession, you are not alone. Family dynamics can make it feel like walking on eggshells. Will the kids feel slighted? Is the person you have in mind even interested in taking over? These are real concerns, but avoiding the discussion only makes things harder down the road. The good news? Starting early and keeping it simple can take the weight off your shoulders.

Trisha Bengston, Senior Tax Manager at Adams Brown, puts it plainly: “Starting earlier is always better.” She’s seen firsthand how proactive planning can transform a potentially messy transition into a smooth one. By addressing needs like job descriptions, compensation, entity structuring and standard operating procedures well before the handoff, you can professionalize your operation and set the next generation up for success.

The Relay Race of Succession

Picture a relay race. The runner passing the baton doesn’t stop dead in their tracks—they keep moving, matching pace with the next runner until the handoff is complete. Succession planning works the same way. It’s not a single moment but a process, one that requires motion, trust and teamwork. Here’s how to get started:

  1. Start with Open Communication

The foundation of any solid succession plan is an honest, inclusive family meeting. No decisions need to be made right away—just create a space to talk. Gather everyone involved and cover topics like:

  • Your retirement plans and timeline
  • The farm’s current financial health
  • Your goals for the future
  • The values and principles that have guided your operation
  • Any existing buyout agreements or funding ideas
  • Everyone’s expectations, challenges and even fears

This isn’t about laying down the law; it’s about listening and understanding where everyone stands. Be patient—it might take a few meetings to get comfortable. As Bengston advises, think back to your own transition into the operation. What worked? What do you wish had been done differently? Those reflections can guide the process.

  1. Identify the Right Successor

Choosing who’ll take over is one of the toughest parts, but it doesn’t have to be a family member. Just ask Larry Dahlsten, a farmer from Lindsborg, Kansas, who selected a non-family successor with shared values and a passion for farming. “If you can help a younger adult get started, shouldn’t that make all of us feel better about retiring?” he says. Whether it’s a child, a trusted employee or someone else, the key is finding a successor who’s not only capable but also genuinely invested in the operation’s future.

Ask yourself:

  • What are my wishes for the farm or ranch?
  • Who have I identified to take it over?
  • What are my goals and concerns in this process?

  1. Build a Customized Plan

Every farm is unique, and so is every succession plan. At Adams Brown, we start with a needs assessment to understand your operation, your family and your vision. From there, we tailor a plan that might include:

  • Clear job descriptions and roles for the next generation
  • Compensation structures that are fair and sustainable
  • Entity structuring to optimize tax and legal outcomes
  • Standard operating procedures to keep the business running smoothly

This isn’t a one-size-fits-all checklist. It’s a roadmap designed for your specific circumstances, built to evolve as your needs change.

  1. Keep Moving Forward

Succession planning isn’t a sprint—it’s a marathon. It might take a year of monthly or quarterly meetings to lay the foundation, and that’s okay. The important thing is to keep moving. Don’t let the fear of tough conversations or the complexity of the process hold you back. As Bengston says, “Take the best next step. It will be worth it.”

The Payoff of Planning Ahead

A well-executed succession plan does more than secure your operation’s future, it brings peace of mind. It ensures your legacy lives on, whether that’s through a family member or a like-minded successor. It minimizes conflict by setting clear expectations. And it professionalizes your operation, making it easier for the next generation to step in with confidence.

If you’re ready to start the conversation, Adams Brown is here to help. Our team specializes in the agriculture industry, and we know the unique challenges you face. Contact us today for a free consultation, and let’s work together to pass the baton smoothly.

Your farm’s story doesn’t end with you. With a little planning, it’s just the beginning of the next chapter.

Also published in Farm Progress Magazine