Extension Office: Transferring Your Farm or Ranch to the Next Generation

Talk with almost any Montana family farm and ranch enterprise and you will find one of goal is to transfer land and businesses to the next generation.

“The process can be challenging to all members of the family,” says Marsha Goetting, MSU Extension family economics specialist. “Some families may avoid the process completely because of the economic, legal, and family decision complexities. Others may start the process but abandon it to avoid conflicts that can arise from differences in goals, values, and feelings of fairness among family members.”

“The MSU Extension publication “Transferring Y...