Unfortunately, bankruptcy is often associated with underperformance or carelessness. However, this should not be the case. Filing a Chapter 12 bankruptcy can be a great tool and resource for families engaged in agriculture who find themselves in a difficult situation and face going out of business or losing their farm.

A common scenario among many farmers is that one of their children wants to continue the farming business while their other children do not. What can farmers do in a situation like this as they plan for the future?