Library

Introduction: The Importance of Farm Transition Planning

Shannon Ferrell, Rodney Jones and, J.C. Hobbs (2013)

Summary

Legacy. Heritage. Tradition. Values. These words quickly come to mind when one thinks about the importance of passing the family farm to the next generation. For many, the family farm represents the collective work of multiple generations. Regardless of whether a farm’s was established in the days of the Oklahoma territory or if it was started last year, though, chances are its owners regard it as more than a mere collection of assets. Farmers and ranchers share a unique connection to their operations, and that connection almost always carries a nearly-instinctive drive to make sure the operation successfully passes to the next generation.