estate planning

What Will Happen To Your Farm When You Retire?

Farm and ranch operators are in need of serious estate planning. In the last 30 years those young farm operators have gotten older and are getting into their 60's.

In 1982 there were 13,436 operators of farms under the age of 35, and 8,777 farm operators over 65 years of age. In 2007, there were 3,353 farm operators under the age of 35, and 13,062 farm operators over 65.

It is possible to connect those who have investment capital with those who want to retire. But planning is key. And this needs to be done sooner rather than later.

Today’s agriculture has a wealth of older farmers who may want to retire, but have no one to carry on their business. It also has many younger would-be farmers who want to farm, but have no financial way of climbing into a farm operation. Third party networks have been successful in matching potential operators with those who want to leave active farming. Planning is a necessary element needed to guarantee success.
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