Managing Nebraska’s farm and ranchland is an important task but about half of all Nebraska producers do not have a succession plan. The Department of Agricultural Economics has resources and tools to help landowners with estate planning and land leasing. Allan Vyhnalek, an extension educator focused on farm transition and succession, leads the effort.

According to Vyhnalek, “The importance of having a farm or ranch succession plan in place cannot be overestimated. More importantly, most farmer/ranchers start too late on their plans and lose useful tools from the toolbox that would help them.”

In 2018, workshops across Nebraska focused on estate planning, farm succession and landlord-tenant relationships. Workshops have already been scheduled for 2019 (calendar)

The estate planning workshops helped agricultural producers plan to retire, exit, or transfer the farm or ranch business. The workshops covered the importance of having a plan, proper family communications, proper family negotiations, end of life documentation needed, estate planning options using wills, trusts, and/or other business entities.

An additional workshop series focused on those who inherit farmland. Participants received help with the management, legal, and family dynamic issues that accompany farmland inheritance.

The “So You’ve Inherited A Farm, Now What” workshop was also presented online. A recording is available at the Farm Succession webpage at: agecon.unl.edu/succession

Landlords and their tenants got help with their land management questions at the “Managing Agricultural Land for the 21^st Century” workshop series. The workshops covered current trends in cash rental rates, lease provisions, and crop and grazing land considerations.

Vyhnalek joined the department in 2017. Before his current role, he worked for 30 years in extension in Nebraska and Iowa. Austin Duerfeldt, Jessica Groskopf, Robert Tigner and Jim Jansen, all regional Ag Economics Extension Educators in the department, also participated in conducting the workshops.

For more farm succession resources and tools, visit agecon.unl.edu/succession.