Agricultural Economics, Department of
Date of this Version
6-10-2025
Document Type
Article
Citation
Groskopf, J. “Navigating Farm Succession Without a Family Heir: Advisory Team,” CAP Series 25-0601, Center for Agricultural Profitability, University of Nebraska-Lincoln, June 10, 2025. DOI: 10.32873/unl.dc.cap068.
Abstract
Before we dive deeper into planning, we need to establish a team of advisors that you know, like, and trust to help you develop a comprehensive strategy. At minimum this team should include an attorney and a tax professional. Depending on your needs, you might also include a financial advisor, insurance agent, agricultural lender, and any other professionals that will play a role in implementing your plan.
Each advisor brings a unique perspective. One of the biggest mistakes I see is relying solely on an attorney. While legal advice is critical, the best outcomes often result from collaborative input across multiple disciplines