Completed Project Report


Farmland Succession Planning and Risk Management Infrastructure for the Next Generation of Farmers

  • Award Amount: $50,000
  • Regional Center: Southern Extension Risk Management Education Center
  • Grant Program: 2018 Education Projects

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Project Overview

Farmland succession planning helps ensure that dreams become reality; and the farm continues operating with sufficient economic viability to support multiple generations. Succession plans work hand-in-hand with retiring generation’s estate plans. By creating succession plans, a family’s vision and intentions for their farm are addressed and implemented purposefully. Thus far, the  Center has created outreach materials  for distribution, as well as conducted four outreach meetings. The goal continues to be to connect the next generation of producers with "current" generations who own/will own productive farmland. Current resources are being used to develop additional risk management infrastructure linking individuals seeking entry into farm production. The project produced resources on farm entry techniques that engaged individuals who aspire to pursue farming, and "urban-land-heirs" who wish to keep their farmland in production. Capital access challenges faced by beginning farmers were addressed by engaging banking institutions to assist in developing agricultural Individual Development Accounts. 

The project continues to assist aspiring producers with managing land-tenure risk through use of written agreements and farm-plans.  These tools provide more secure access to land, and minimize disagreements between landlords and tenants.  The project continues to assist farmers facing financial and legal risks by discussions focused on development and understanding of arrangements with new-farmer-tenants.

Number of Participants: 673

Results

Project Steps

PROMOTIONAL MATERIALS

There are no promotional materials available for this project.

EDUCATIONAL MATERIALS

There are no educational materials available for this project.

REPORTS & EVALUATIONS

There are no reports or evaluations available for this project.

DELIVERY AREA

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