Transitioning the Farm Business or Land to a Young Farmer

FarmOn, Beginning Farmer Center - Farm On is a service to help preserve the family farm business by matching beginning farmers who do not own land, with retiring farmers who do not have heirs to continue the family farm business. Farm On maintains a database of potential beginning farmers and landowners. http://www.extension.iastate.edu/bfc/farm

Managing for Today and Tomorrow, Annie's Project - Creating a transition plan to make sure a farm continues as a productive, agricultural business can be challenging. Farm women can have a key role in successful farm transitions. Managing for Today and Tomorrow, a new Annie's Project course for women, is divided into the following planning areas:

  • Succession Planning - Transferring knowledge, skills, labor, management, control and ownership between generations.
  • Business Planning - Developing goals, strategies and actions that form a road map to business growth.
  • Estate Planning - Managing an individual's asset base in one's lifetime, at death or after death.
  • Retirement Planning - Designing an enjoyable and productive time in life. http://www.extension.iastate.edu/annie/mtt.html

Farm Journal Legacy Project - The Farm Journal Legacy Project is a concerted effort to address the succession planning needs of America’s farm families. Utilizing all Farm Journal Media properties, the Legacy Project provides comprehensive succession planning information. Its mission: to cultivate multigenerational success in the agricultural community. www.agweb.com/legacyproject/

Next Generation Program, Practical Farmers of Iowa - The Next Generation program provides opportunities to learn production, marketing, financial, stewardship, and spiritual lessons from experienced farmers at our conferences, workshops, online seminars, and on-farm field days. www.practicalfarmers.org/programs/youth-and-next-generation.php

Insurance Products for Estate and Success Planning, Farm Bureau Financial Services - www.fbfs.com/Default.aspx

Farmer Veterans Coalition - The work of the coalition is to share experiences with recent military veterans and to assist them in using their many relevant skills to create a new generation of innovative, ecological, and financially successful young farmers. Our program has the ability to help veterans reduce risk and become successful farmers by utilizing the many specific and unique resource available to help military veterans starting businesses, buying land, or overcoming disabilities. http://www.farmvetco.org/
    
Iowa Beginning Farmer Tax Credit - The Agricultural Assets Transfer Tax Credit is commonly referred to as the Beginning Farmer Tax Credit. The program is administered by the Iowa Agricultural Development Authority and began with the 2007 tax year. The Beginning Farmer Tax Credit Program was enacted by the Iowa legislature as an incentive to keep land in production agriculture, by allowing agricultural asset owners to earn tax credit for leasing their land to beginning farmers. The program includes tax credit for the leasing of agricultural land, depreciable machinery or equipment, breeding livestock, and buildings. www.iada.state.ia.us/BFTC/index.html
        
    
Land Link Services, Center for Rural Affairs, Nebraska - The Center's Land Link program uses matching and consulting services to bring together beginning farmers and established landowners, increasing opportunities for new farmers while promoting good stewardship. The process brings together retirement planning, new farmer financing, farm business, and environmental assessment in order to ease transitions of family operations from the retiring generation to the next generation of farmers and ranchers. http://www.cfra.org/landlink

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