The modern agriculture landscape often calls for a more strategic approach – one that may involve identifying and grooming a non-family successor.

Over time, the strength and size of unified family assets create a competitive advantage over the farms that fragment their assets with each generation. I don’t believe many people set out to erode family assets, but it often happens by falling into some of these transition planning traps.

Farm succession planning is a critical topic that often gets brushed under the rug due to a variety of emotional and practical reasons. Families and farmowners may avoid discussing succession because of deeply rooted values, fear of mortality and the uncertainty of what lies ahead.

Transition talks can be dreadful and pit parties against each other in an effort to find a long-term plan for the farm, but with the right approach, these talks can have an entirely different successful outcome.

Many families make the mistake of jumping into succession planning without a plan. They meet with their professionals, have conversations with family and may even get so far as to begin transitioning ownership of assets, but somewhere along the way, momentum gets lost and the plan stalls.