Agricultural Economics, Department of
Date of this Version
7-2-2025
Document Type
Article
Citation
Cite this work:
Groskopf, J. “Navigating Farm Succession Without a Family Heir: 7 Common Concerns,” CAP Series 25-0701, Center for Agricultural Profitability, University of Nebraska-Lincoln, July 2, 2025. DOI: 10.32873/unl.dc.cap070.
Abstract
In my work with agricultural families, I’m seeing a growing and difficult reality: many farms and ranches today don’t have a successor within the family. While this absence can simplify parts of estate planning, it often creates deeper, more emotional challenges, especially when legacy and identity are tied to the land.
In an earlier article, I posed a tough but essential question: What do I want to happen to my farm or ranch when I die? The related, and often revealing, question is: What outcomes are unacceptable to you? The answers often revolve around seven common concerns that strongly influence your succession planning.