Episode 27: Starting the Conversation On Farm Succession
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Show Notes
Succession planning can feel daunting and complex. With multiple people bringing different expectations to the table, it can be difficult to build a plan that fits everyone – which is why less than one in five farm families actually have a farm succession plan in place.
In this episode, host Amy Crozier sits down with Kevin Brooks, Farm Business Management and Marketing Educator with the University of Illinois, to explore the family dynamics that can make succession and estate planning difficult. They discuss how owners can establish clear goals, understand expectations and begin building a plan for their operation.
Kevin also shares practical steps families can take to get started and explains why clear and consistent communication can help prevent surprises, protect relationships and prepare everyone for what lies ahead.
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"Less than one of every five farm families actually has a farm succession plan in place."
About the Guest
Kevin Brooks
Farm Business Management and Marketing Educator, University of Illinois Urbana-Champaign
Kevin Brooks is a Farm Business Management and Marketing Educator at the University of Illinois Urbana-Champaign serving four major counties. He is also a part-time farm manager, licensed real estate broker and owner of Farm Coach, an educational business platform for farmers. Growing up on a corn and hog farm, Kevin has deep roots in agriculture. He has managed and consulted on over 25,000 acres of farmland and marketed grain with expertise in risk management, financial analysis, grain marketing, estate and succession planning, loan analysis and more.