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Extension specialist says farm succession plans lacking
A University of Illinois Extension specialist says more attention needs to be brought to farm succession planning.
Kevin Brooks, a commercial ag educator, tells Brownfield…
“Only 19% of farm operations, and I would include land owners in this as well, have a plan in place for the farm to continue after the retirement or death of the principal operator or operators,” he says.
He says a little planning goes a long way.
“What does or doesn’t go into a plan can and often times does blow up family relationships after mom and dad are gone.” He says, “But also if you don’t have a plan in place, the state has one for you.”
Brooks says it’s important for farm families to take time to understand and formulate a succession plan to ensure the operation’s longevity.
He also says this, and several other topics, will be addressed at the upcoming U of I Extension Farmland Owners Conference in Oglesby, IL on November 25th.
Kevin Brooks & Emily Hansen – U of I Extension
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