Transition talks can be dreadful and pit parties against each other in an effort to find a long-term plan for the farm, but with the right approach, these talks can have an entirely different successful outcome.

Many families make the mistake of jumping into succession planning without a plan. They meet with their professionals, have conversations with family and may even get so far as to begin transitioning ownership of assets, but somewhere along the way, momentum gets lost and the plan stalls.