Have you thought about your farm’s future? We are here to help you explore your options.
Farm transitions can be complicated for both exiting farm owners and incoming farmers. Successful transitions often require careful navigation of multiple goals and often warrant in-depth financial planning and close consideration of many factors. Transferring the farm business while the business is still fully operational is ideal so that you have the resources to retire or transition to another opportunity, and the land stays in farming.
It’s the process of transitioning your farm business, land and/or other farm assets from one farm operator(s) to the next. It can include transferring ownership, skills, knowledge, and management roles. It's an important process to consider when retiring or stepping back from farming, and it can be complex and take many years.
Whether you think you’ll be farming for decades more or think retirement may be in the near future, now is a great time to start your farm succession plan!
Historically, farms were handed down to children, but today the successors are often not family members, and the process and financing options can be complicated. Whether you're looking to transition away from farming or you are ready to take over the farm, it can be hard to find professional services like lawyers, accountants and estate planners with relevant, up-to-date expertise. We can help you identify possible options and connect you with professionals who can help you understand the legal and financial aspects of transferring a farm business.
If you are a farm owner who is ready to sell or lease your farm or farmland, you may want to post your property on Maine FarmLink.
