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Farm succession planning – Don’t wait to begin
Dr. Ron Hanson from the University of Nebraska – Lincoln discusses realities of farm succession planning.
An Ag Economist says many farmers wait too long to begin succession planning.
“Most families don’t want to sit down and talk about the ‘What if?’ family issues. Things that might happen, and if something happened within the family and to the farm today, does everyone know what happens tomorrow?”
That’s Dr. Ron Hanson from the University of Nebraska – Lincoln. Hanson says farmers need to be open and honest with their heirs.
“Openness and honesty promote trust and respect. Secrets only cause conflict, and when you create those suspicions and create those doubts then right away people lose trust and respect, and when that happens, family’s are now in conflict with each other,” says Hanson.
Brownfield spoke with Hanson at a Farm Succession forum hosted by AgCredit in Ohio.
Audio: Dr. Ron Hanson, Harlan Agribusiness Professor Emeritus, University of Nebraska – Lincoln
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