NORTH PLATTE, Neb. (KNOP) - The average age of the American farmer and rancher has increased every year for the last 30 years. This means it's important for these older agriculturalists to have a succession plan in place.
A generational transition session was held at the West Central Research and Extension Center Tuesday to focus on this matter.
Legal advice and personal stories of both failure and success with transitioning generations on operations were given.
Lawyer Pamela Olsen was one of the featured speakers. Olsen focuses on agricultural estate planning and helping families transition their operations from one generation to the next.
"I think the aging population of the owners of Nebraska operations really should encourage owners and operators to get going on this conversation and making sure part of their transition plan is not only the documentation necessary to make it happen from a legal perspective. But also the communication among the owner-operators and the next generation about what that plan looks like," said Olsen.
More transition sessions will be held around the state this year for those who were too busy to attend today.