DATE:    2/24/04 
WRITER: Nancy M. Porter, (864) 656-5718
EDITOR:  Susan Bedingfield, (864) 656-3876; sbeding@clemson.edu

Who will get Grandpa's farm
when he plows his last furrow?

	CLEMSON -- With positive communication, farm families can avoid 
conflict during the farm transfer process, according to a Clemson 
Extension family resource management specialist.
	Nancy Porter, co-chair of a national effort to educate families
on how to prepare for financial security in their later years, says 
communication is the key to avoiding difficulties in family farm 
transfer.
	"At times, younger people don't want to initiate the topic with 
aging parents because they don't want to upset anyone. The parent 
doesn't want to discuss the topic because of fear. If they give up the 
title to the farm or start to discuss farm transfer, they are losing 
authority and independence in the family unit," said Porter.
	The Financial Security in Later Life initiative offers the 
first web site that approaches the topic of farm transfer and 
communication strategies. The program can be found at 
http://www2.ces.purdue.edu/farmtransfer/. 
	The site offers information and frequently asked questions 
concerning transferring farm ownership, a presentation guide, videos 
showing a real transfer situation and an interactive quiz.
	Porter said that conversations on farm transfer should be 
respectful of each participant's opinion. Rather than have one person 
control the discussion, the group should work together to solve the 
issue, allowing for equal input.  Viewing the information on the web 
site can help farm families conduct these conversations.
	"This will allow each participant of the farm transfer process 
to have an equal say, thereby avoiding argument and conflict," she 
said. 
	"It is helpful to include an advisor, such as an attorney, to 
assist the family with the succession planning process. It is important
to help the older person understand how their estate planning actions 
affect those who are left behind such as a spouse and children."
	Another sensitive issue is deciding who will be successor to 
the farm, especially if there is no family member to designate. If 
there is no family member to operate the farm, an alternative to 
selling would be to find a beginning farmer to bring into the 
operation. 
	Some states will provide programs that help match older farmers 
with beginners. From this point, the farm operator and beginning farmer 
can discuss possible transfer strategies.
	Farm operators between 50 and 60 years of age should begin to 
make estate plans while they are in good health and not wait until they 
and their family members are coping with illness.
	The National Endowment funded development of the web site for 
Financial Education.
				END