Do You Need a Succession Plan?
You may if you can’t answer YES to each of the following questions.
- Will your farm, ranch, or family business remain in the family for future generations?
- Will ownership transition smoothly to the next generation and provide equitable benefits for all of your children?
- Will your family operation provide financial security for you and lasting benefits for your dependents?
- Will the estate tax and other transfer obligations force your family to sell the land to pay for their inheritance?
A Comprehensive Succession Solution
70% of California’s first generation farms, ranches, and family owned business will fail in the transition to the second generation. Of those that do survive, 90% will fail in the transition to a third. And of the few remaining after that, 96% will not transition to a fourth.