Farm Succession Planning

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Easing the transition to the next generation

Studies show that roughly 89 percent of farmers today do not have a transition in place, which makes it difficult for the next generation to succeed. ASA partners with several quality providers — including Nationwide’s Land As Your Legacy program — to assist you in easing the transition to the next generation and ensuring long-term success for your operation. ASA will evaluate your farm and your specific situation to provide a recommendation for the best transition plan for you. 
As an example, the Land As Your Legacy program looks at the following key elements:

  • Succession Planning. The successful transition of your business to the next generation

  • Business Planning. Your strategy for profitability now and in the future

  • Risk Management. Identifying and preparing for risks to your operation, including health insurance, long-term care and property and casualty insurance

  • Financial Independence. Ensuring your financial independence from the farm operation after retirement and mentorship training for the next generation

  • Estate Planning. How you would like your assets distributed and liabilities paid