Succession planning is a necessary but difficult process. FarmLASTS estimates 88% of farmers and farmland owners do not have an exit plan.  With good communication and a well-developed plan, transitioning a family farm or business can be accomplished.  The Butler, Logan and Warren County agriculture extension agents led and taught a 3-part virtual farm transitions series.  The program was offered by all Mammoth Cave agriculture agents and had 16 participants with farm estate values totaling $10,500,000. 

According to end-of-session evaluations, 100% of the participants will use the information learned to start the family communication process to develop a plan.  One hundred percent of participants plan to gather all essential documents and 75% of participants already started collecting necessary documents before the series ended.  One hundred percent of the participants increase their knowledge of the legal requirement of a transition plan and intend to utilize that knowledge in developing their plan. 

A follow-up survey conducted 6 months after the program concluded that: 85% of participants have gathered their essential documents or are gathering them,  29% have contacted a legal professional, and  50% of the estates represented in the program are valued between 1 and 5 million dollars.  Protecting these assets for our farm families will pay benefits for years to come.