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It’s ok for younger generation to bring up succession planning

A Farm Bureau Young Farmer and Rancher (YF&R) state committee chair says it’s ok for the younger generation to bring up succession planning.

Jeff Pagel of Eyota in southeast Minnesota tells Brownfield many farm families avoid talking about the subject.

“They just don’t want to talk about it (thinking) they’ll deal with it when the time comes, and a lot of times that’s too late and it doesn’t work out as good as it could’ve if you get talking about it early on.”

He says young farmers can’t afford to sit back and assume the transition will go smoothly.

Pagel also points out this is a difficult time to take on a larger role in the farming operation.

“The agricultural economy where it is right now, it’s pretty tough to get in as a young farmer at this time too.  Everybody knows commodity prices are not as good as they could be and it’s tough to make ends meet even if you have everything paid for.”

Pagel says succession planning was one of the most prominent topics during the American Farm Bureau YF&R conference that took place in Reno, Nevada, last week.