GREAT FALLS — Farm succession is one of the most important issues confronting agriculture today, and the Montana Farmers Union (MFU) is working to address it. Through cooperation and education, the MFU aims to reverse the trend of younger generations showing less interest in taking over family businesses and the number of active farmers continuing to decline.
“We are going to be holding a succession planning institute,” said MFU Education Director Jodi Koterba. “One of the big issues in agriculture across the country is handing off land from one generation to the next.”
Quentin Shores reports - watch the video here:
The process of passing down farm ownership and management from one generation to the next is known as succession planning. Rising land prices and the financial pressure to sell real estate have made this shift more challenging for many Montana households.
"With land prices being so high, it can be attractive for folks to retire from agriculture and get that big paycheck," Samantha Ferrat told me.
Ferrat, a fourth-generation Montana rancher, will attend the program to safeguard the long-term viability of her tiny farm. "My grandparents lost their farm in the late 1980s, early 90s to the farm crisis," Ferrat told me. "All we have left is 13 acres,and that’s what I actually grew up on. So that succession planning is still going on.”
The meeting is designed to benefit farmers of all backgrounds, from those just starting out to families seeking retirement.
With farms increasingly being purchased for commercial development, dividing what remains among family frequently becomes a subject of contention.
"One of the problems is grandma wants this, dad wants that, kid wants something else," says Koterba. "How do you make everybody feel included and on the same page?"
Despite the hurdles, organizers believe that events like these will provide families with the tools they need to preserve their agricultural legacy.
"I'm really excited to see people again and meet new people," Ferrat told me. "And to get some really good insights from the Succession Planning Institute as well."
If you're interested in attending the succession planning conference, it's being held November 2nd at the Yogo Inn in Lewistown; click here for more information.
Non-members can register for $50, which includes a year of membership in the Montana Farmers Union. Current members can attend for free.
