Breaking Through Succession Planning Roadblocks on Your Farm or Ranch

Nearly every article about farm and ranch transitions emphasizes how few family business owners have formal succession plans. They cite statistics on the lack of planning, warn about the costs of unplanned transitions, and outline the potential damage to both finances and family relationships. The message is clear: failing to plan for your business transition can create serious challenges for the next generation.

Despite this, many family business owners still don’t complete their succession plans. One reason is that succession planning is never truly “finished.” Life events—births, deaths, marriages, divorces, family conflict, changes in business strategy, acreage fluctuations, and even natural or economic disasters—can all affect your plan.

But even with these realities in mind, many still hesitate. Here are common reasons why.

Feeling Stumped

Sometimes you simply don’t know where to begin. You may be unsure how to divide assets among children, or whether they should be divided equally. Maybe you don’t know how to acknowledge the contributions of family members who stayed to help while others pursued careers elsewhere. Or perhaps no one plans to return to the farm, and you don’t know how to plan for that. When there’s no clear solution, it’s easy to avoid the conversation entirely.

Conflict Among Family Members

Family conflict often contributes to planning paralysis. Maybe you and your spouse can’t agree on a plan. Perhaps tension between adult children complicates decisions about inheritance. Maybe you’re frustrated with an in-law or disappointed by a family member’s lifestyle or choices. When relationships are strained, it can be hard to picture a smooth transition.

Unrealized Goals

Many owners hope to grow their business and pass it on to the next generation. But if those dreams don’t materialize, planning becomes painful. Family involvement may not have worked as hoped, or the business’s long-term viability may be in doubt. Facing those realities can make planning feel like an acknowledgment of a dream that didn’t come true.

Overwhelmed by Complexity

Succession planning can be complicated. Farm Service Agency regulations, entity structures, trusts, gifting strategies—it’s a lot to navigate. When you add in family dynamics, it’s tempting to throw up your hands and think, “They can figure it out when I’m gone.”

Facing Your Own Mortality

Succession planning also means confronting your own mortality, and that’s something many people prefer to avoid. For some, not planning feels easier than facing the idea of stepping away or passing on.

Moving Past the Hesitation

The way to move forward is simple: talk it through. Discuss options, brainstorm ideas, write them down, debate the pros and cons, and visualize what different paths could look like. You can do this with your spouse, trusted friends, other family members, or advisers.

Sometimes it helps to talk to someone completely outside your industry—someone who owns a family business in a different field—to get a fresh perspective. Talking with others you respect can create accountability and momentum.

Then, focus on just the next step. Don’t try to complete the entire plan at once. Schedule another meeting, research a strategy, or start one small conversation. Step by step, the pieces will come together. Overcoming hesitation isn’t easy, but by understanding its sources, talking with others, and consistently moving forward, you can build a stronger path to the future.

To read the full article by Lance Woodbury, visit Overcome Succession Plan Hesitation.