Why You Need a Succession Plan

It's time to get serious about the future of your farm.

If you don't have a farm transition plan in place, you're not alone. According to the U.S. Department of Agriculture, roughly half of farmers don't have a succession plan in place.

Farmers often avoid preparing for succession because the process is stressful. It requires asking difficult questions and engaging in uncomfortable conversations, but having a succession plan ensures your business will transition from one owner to the next seamlessly and your legacy will remain long after you’re gone.

We can't stress the importance of having a plan in place. Delayed succession planning can lead to complex and challenging problems that can have a severe impact on your family's future. To learn more about these problems, take a look at our Guide to Succession Planning.

Lincoln Savings Bank has helped families across Iowa develop succession strategies for decades. By teaming up with an experienced financial professional, we can help you develop an effective strategy tailored to meet your needs.

Succession planning always starts with a conversation. Do you have a couple of minutes to talk with one of our succession planning experts? Simply fill out the form below and we'll be in touch.

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