Succession Planning for Off-Farm Heirs Inheriting Land

By: Mark McLaughlin

Problem: Our off-farm children want to inherit land and rent it to our farming son; do we really need farm succession planning?

Our son farms with us and has grown our operation. Our other three children say they will keep their share of the land and just rent it back to him. As it is now, each child would get 240acres. We have a good family. They all have good jobs, good spouses, and get along well. We want to do the right thing, but we realize our son needs to grow the farm for his fam-ily too. What do you do when the off-farm heirs say they want the land?