OFP – Farm Transition Planning

workbook coverThe Office of Farmland Preservation published a workbook (available in English and Spanish) for families who want to keep their farmland in production or “in the family” as it passes to the next generation:

Topics covered in the workbook include developing your vision, evaluating farm resources, understanding farm transfer tools, and preparing to meet with professional advisers. To request a hard copy, send an email with your address to: ofp@scc.wa.gov.

More planning resources 
Business PlanningFamily CommunicationsFarm LinkingLegal Issues and Structure

Business Plan An explanation of what to include in a business plan.

Operating Agreement This is often used as an intermediate arrangement between a wage arrangement and a partnership or corporation.

Professional Checklist What you need when you meet with professionals.

Computing a Cropland Cash Rental Rate – (Iowa State University Extension, 2009) This document explains how to determine what to charge for renting cropland, and illustrates examples for calculating rental rates.

The Farmers Guide to Agricultural Credit – (Rural Advancement Foundation International, 2006) This extensive guide provides answers to questions about agricultural credit and financing.

Managing Prosperity: Estate and Retirement Planning for All Ages- Planning for Long-Term Health Care – (Virginia Cooperative Extension, 2009) This publication from Virginia Cooperative Extension covers planning for long-term health care, including Medicaid eligibility, exemption and disqualification; and long-term care insurance.

Managing Prosperity: Estate and Retirement Planning for All Ages- Powers of Attorney – (Virginia Cooperative Extension, 2009) This publication from Virginia Cooperative Extension examines the importance of establishing power of attorney as part of any estate planning effort.

Farm Family Questionnaire – (Pennsylvania Farm Link Web site) This worksheet helps farm families think about and discuss what will happen with the family farm in the future

Washington FarmLink (farmlink.cascadeharvest.org) is the state’s leading program to link aspiring farmers and landowners to resources and each other, helping them build and transfer sustainable farming operations.

FarmLink works to help facilitate the transition of farms to the next generation by connecting people with the resources and technical expertise necessary to achieve these goals through:

  • educational workshops and networking events
  • a comprehensive one-stop resource center
  • one-on-one assistance
  • a farmer/landowner matching service

Farm Rental Agreement Checklist – (Ohio State University Extension, 2001) This document provides a good, brief list about the provisions that should go into a farm rental agreement.

Lease Agreement Guide for Landowners and Farmers – (University of Vermont Extension, 2002) This is a clear guide to lease agreements, and includes easy-to-understand steps and considerations for both parties in lease agreements.

Managing Prosperity: Estate and Retirement Planning for All Ages- Advance Medical Directives – (Virginia Cooperative Extension, 2009) This publication from Virginia Cooperative Extension outlines advanced medical directives (also known as “living wills”), and includes suggestions for drafting these directives in Virginia.

Managing Prosperity: Estate and Retirement Planning for All Ages- An Introduction to Trusts – (Virginia Cooperative Extension, 2009) This publication from Virginia Cooperative Extension provides an overview of trusts, and how and why these trusts should be used.

Managing Prosperity: Estate and Retirement Planning for All Ages- Love, Marriage and Divorce – (Virginia Cooperative Extension, 2009) This publication from Virginia Cooperative Extension provides an overview of the rights of spouses in property upon divorce, and how to take the possibility of divorce into consideration when developing a farm transition strategy.

Managing Prosperity: Estate and Retirement Planning for All Ages- Probate and the Probate Process – (Virginia Cooperative Extension, 2009) This publication from Virginia Cooperative Extension provides an overview of the probate process used to settle the estate of those that have died, both with or without a will.

Managing Prosperity: Estate and Retirement Planning for All Ages- Rights of Surviving Spouses and Children – (Virginia Cooperative Extension, 2009) This publication from Virginia Cooperative Extension outlines the rights that surviving spouses and children have in Virginia when they perceive that the deceased failed to adequately provide for them.

Ownership Structures for Your Farm or Ranch: Some Basic Considerations – (University of Nebraska, Lincoln) This document describes the various ownership structures used to manage a farm business operation.

Risk Management Checklist – (United States Department of Agriculture Risk Management Agency) This document provides information to farmers to help them evaluation their exposure to risk.