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The University of Tennessee, Institute of Agriculture

Tennessee Farmland Legacy



 


Tennessee Farmland Legacy

Planning Today for Tomorrow's Farms

A Workbook for Tennessee Farm Families

The objective of this workbook is to provide readers a solid foundation upon which they, and all of the people involved, can understand basic farm succession planning concepts and processes. Of equal importance, this workbook seeks to prepare all of the individuals to effectively search for and use the appropriate professional services required for the development of a high‐quality farm succession plan.

Throughout, this workbook assumes that the farm transfer will take place between two families, related or unrelated, and that their business relationship will continue over an extended period. However, the information contained in the manual is certainly applicable to a wide range of situations.

Successful farm succession planning takes a comprehensive approach that involves all of the planning categories discussed below. Given the potential for each chapter to be used independently, some information may be reiterated in several chapters.

A Workbook for Tennessee Farm Families