OBBBA reshapes taxes, credits and succession planning in one sweeping package – bringing relief and complexity to farm families.

Although many farmers want to preserve their family legacy, they also need to consider their needs in retirement. Effective succession planning can balance these needs, but because of legal, financial and operational complexities, it’s important to approach this issue with a comprehensive framework.

Barn Gothic explores how my dad, my grandfather and I tried to be fathers and sons to each other while our livelihood fell apart, including the times that we failed. It chronicles the specific dramas of our farm, from dealing with accidents to the sinister actions of banks and other institutions trying to take the farm. It recounts the extraordinary lengths my father went through to keep farming, as well as how we tried to figure out who we were and what redemption there might be in what we were doing.

For cattle producers, succession planning is often discussed in terms of what to do: create a will or trust, meet with an attorney, talk to your accountant and start building a plan.

Step onto Lowe Family Farmstead near Kuna and you’ll find a conventional farm growing feed corn and wheat. And if you come in the fall, you’ll find a corn maze, hayrides, livestock interactions and dozens of other on-the-farm activity options.

South of Edmonton, Alberta, in Leduc County, Dieter Gagelmans works to fulfill his dream of owning his own dairy farm. His story is one of hard work and dedication, not unlike others in the industry, though his differs slightly from most.

Retirement looks different for each of us. For some, it means ceasing to work completely. For others, it’s a shift in responsibility from owner to operator. And for some, it’s as simple as not being “on call” for those unforeseen events, like a 2 a.m. breech calving or a frozen milkline.

As the average age for Idaho producers slowly rises – 56.6 years old in 2022, according to USDA – Milo is among the 9% of Idaho’s farmers and ranchers under age 35. “In the 30-mile radius around our farm, there are not a lot of young farmers,” he says. “There’s maybe three coming back to farm with dad, including me.” It’s no wonder, with commodity prices failing to offset rising costs of land and inputs.

A well-conceived and coordinated plan is essential for a successful expansion that achieves the dairy family's objectives. Here are key areas to address and implement.