Farm Transition Study
April 2023
Monday, May 29, 2023
by: By RealAgriStudies

Section: Wills, Estates, Wealth Transfer


Farm transition is not easy or simple in today’s complex business environment.

Study Overview

Farm transition is not easy or simple in today’s complex business environment. In any family business, dealing with the concerns of the parents, plus children in and out of the business, all under a prevailing cloud of balancing what is fair and equitable is challenging To learn more about farmers perspectives on farm transition and succession planning, RealAgristudies conducted a survey of the Insights Panel This survey was conducted from April 28 – May 2, 2023 In total, 588 respondents participated the survey resulting in a degree of accuracy of +/- 4% with 95% confidence The topics explored in this survey include ◦ The process of transition of ownership and management ◦ Development of a written succession plan ◦ Involvement of external advisors ◦ Usefulness of different sources of information related to transition/succession planning ◦ Perceived barriers to transition ◦ Importance and achievement of goals related to transition/succession.

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