![\"Graphic](\"http:\/\/www.uwagec.org\/aglegacy\/wp-content\/uploads\/2024\/06\/2024_06_05_NOINTEREST_main_FCBK.png\")
\n#AGLEGACY #FarmSuccession #EstatePlanning<\/p>\n
\n#AGLEGACY #FarmSuccession #EstatePlanning<\/p>\n
No longer in the family – Sometimes, it may be impractical to pass the farm or ranch to the next generation. In such situations, families should carefully weigh the trade-offs between equal versus equitable distribution strategies. Some options that families might consider: 1. Divide the property between the children; 2. Sell the operation and pass on the money; or 3. Gift the land to a university as a location for an intern program site.<\/p>\n From outside the family – Consider bringing in an unrelated family that is passionate about agriculture and interested in taking over the operation as another option. This approach can be a rewarding way to continue the legacy while also supporting the next generation of farmers.<\/p>\n Other options – Other options for transfering a legacy might include gifting, forming a trust or working with an internship program. #AGLEGACY #FarmSuccession #EstatePlanning Transfer of management responsibilities for the family farm\/ranch is not an easy task and can be made even more difficult when there is no clear successor. What is a family to do in this situation?<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"sfsi_plus_gutenberg_text_before_share":"","sfsi_plus_gutenberg_show_text_before_share":"","sfsi_plus_gutenberg_icon_type":"","sfsi_plus_gutenberg_icon_alignemt":"","sfsi_plus_gutenburg_max_per_row":"","footnotes":""},"categories":[16],"tags":[],"class_list":["post-3105","post","type-post","status-publish","format-standard","hentry","category-post"],"_links":{"self":[{"href":"https:\/\/www.uwagec.org\/aglegacy\/wp-json\/wp\/v2\/posts\/3105","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.uwagec.org\/aglegacy\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.uwagec.org\/aglegacy\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.uwagec.org\/aglegacy\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uwagec.org\/aglegacy\/wp-json\/wp\/v2\/comments?post=3105"}],"version-history":[{"count":1,"href":"https:\/\/www.uwagec.org\/aglegacy\/wp-json\/wp\/v2\/posts\/3105\/revisions"}],"predecessor-version":[{"id":3106,"href":"https:\/\/www.uwagec.org\/aglegacy\/wp-json\/wp\/v2\/posts\/3105\/revisions\/3106"}],"wp:attachment":[{"href":"https:\/\/www.uwagec.org\/aglegacy\/wp-json\/wp\/v2\/media?parent=3105"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uwagec.org\/aglegacy\/wp-json\/wp\/v2\/categories?post=3105"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uwagec.org\/aglegacy\/wp-json\/wp\/v2\/tags?post=3105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nTransfer of management responsibilities for the family farm\/ranch is not an easy task and can be made even more difficult when there is no clear successor. What is a family to do in this situation?
\n<\/strong><\/p>\n
\nAG LEGACY can help…
\nCheck the AG LEGACY Materials tab at AGLEGACY.org<\/p>\n
\nKeeping it in the family – Several options exist to keep the farm or ranch in the family: 1. Lease out the land to a family member; 2. Lease the land to someone outside your family; or 3. Hire an outside manager, while retaining ownership.<\/p>\n
\n<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"