Intergenerational Farm Transfers
Intergenerational Farm Transfers—The economic future of our nation's agriculture depends on the ability of a new generation to enter farming.
Retirement and succession planning are of considerable importance to farm households and tools should be available to farmers and ranchers to make decisions that enhance their own futures as well as the future of agriculture.
NASDA believes new business succession and farmland tenure models must be developed. These models must be regionally appropriate and respond to the unique needs of both beginning and retiring farmers and ranchers. Models should also recognize farms that produce energy, such as dairy farms with manure digesters.
NASDA supports tax incentives and capital gains exclusion for selling to first time farm/ranch buyers. NASDA also supports USDA grants to state departments of agriculture to provide assistance /guidance to transition farms and farming operations from current ownership to the next generation of family farms.