Smooth farm transition with expert workshops

By Andi Anderson

Farm succession planning is now easier for Indiana families thanks to the Indiana Ag Law Foundation (INAgLaw) workshops. Held recently at the Indiana Farm Bureau headquarters, these day-long sessions are designed to help multi-generational farm families start meaningful conversations about transitioning farm ownership.

The workshops build on INAgLaw’s annual Estate & Succession Planning for the Family Farm program, offering a more intensive approach with smaller groups and hands-on guidance. According to the USDA’s Census of Agriculture, only 51% of Indiana farmers are engaged in succession planning, highlighting the need for such programs.

Workshop Highlights:

Facilitated by legal expert Clint Fischer and INAgLaw Director John Shoup, the sessions cover key topics, including defining farm values and vision, understanding assets and liabilities, and developing a transition plan. Breakout discussions encourage families to address difficult yet necessary topics, ensuring their plans are comprehensive and actionable.

Real-Life Impact:

Participants like the Stafford and Barger families shared how the workshops helped them tackle challenging conversations about their farm’s future. For the Barger family, the sessions provided clarity on roles and communication strategies. The Stafford family, already working on their succession plan, found the workshop a valuable opportunity to refine and update their strategies.

Key Takeaways:

John Shoup emphasized the importance of having a professional team, including attorneys, financial planners, and CPAs, to guide the process. Effective communication among all parties ensures a unified and efficient plan.

INAgLaw will offer more workshops in 2025. Families interested in joining can visit infb.org/farmsuccession or contact John Shoup at jshoup@inaglaw.org for more details.

These workshops ensure Indiana farm families are prepared for the future, fostering smooth transitions and preserving farm legacies.

Photo Credit: istock-dusanpetkovic