Succession planning and exit strategies
Your plan for succession will be as individual as your business.Learn your options
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News & articles
- Published: Thursday, Oct. 1, 2020
COLUMBIA, Mo. – Farm succession planning should not begin when the head of the family dies, says Wesley Tucker, University of Missouri Extension agricultural economist and succession planning coordinator.Too often, planning starts the day after the ...
- Published: Friday, Sept. 4, 2020
COLUMBIA, Mo. – Who will run the farm?It’s the elephant in the room that no one wants to talk about until the owner dies or can no longer run the farm, says Wesley Tucker.Tucker is a fourth-generation farmer and succession planning coordinator ...
Publication date: Nov. 1, 2022
Families may be inclined to only conduct meetings when they need to make critical decisions. However, regular meetings create a culture of communication and inclusive decision-making. Scheduled communications also create opportunities for the family ...
Publication date: Oct. 1, 2022
The average age of U.S. and Missouri farm producers was 57 years old according to the 2017 Census of Agriculture. Yet only 17 percent of U.S. farmers, surveyed in the national 2014 Tenure, Ownership, and Transition of Agricultural Land Survey, said ...
Publication date: July 1, 2022
Individuals who are part of family-owned businesses must navigate their family roles and their business roles. When the family business is a farm, senior operators may struggle to isolate their personal identities, family roles and community roles ...
This video was recorded during a live webinar hosted by the University of Missouri Extension and the Missouri Department of Agriculture as part of a series of eight workshops
Create a culture of communication and thus increase the likelihood of the success of your family farm by holding farm operating meetings, family business meetings and family council meetings to manage different business needs.
Use this worksheet to put a farm succession plan in writing.
Business management - Farm Succession Planning, University of Iowa - Whole Farm -- Transition and Estate Planning