With the average age of on farm and ranch operators steadily rising, but only 9.1% of farm and ranch operations (2012 Census of Agriculture) encompassing more than one generation, the need for estate planning for farmers and ranchers is steadily increasing. Farm and ranch estate planning is not a simple “split the pie,” if you want to ensure the viability of your operation to the next generation. Our attorneys understand the legal, economic, and social considerations needed not only for the transfer of the farm and ranch, but also the succession of that farm and ranch to the next generation. Planning may include insurance, buy-sell, organization of entities, income for retiring generations, segregation of daily, financial, marketing and production decision-making, and goal setting.
If you are an operator facing a sale of potential buy-out, we can help draft and negotiate the transition to ensure the viability of the continued operation.