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Title:Development of a family agribusiness transition planning tool
Author(s):Martin, Anikka A.
Advisor(s):Sherrick, Bruce J.
Department / Program:Agr & Consumer Economics
Discipline:Agricultural & Applied Econ
Degree Granting Institution:University of Illinois at Urbana-Champaign
Abstract:This research identifies common family farm characteristics, outlines the various elements of succession planning, and describes the motivations and objectives surrounding the composition of a succession plan. Business, retirement, and estate planning elements were integrated to develop a succession planning tool for use in transitioning labor, management, and ownership of a grain farm operation from one generation to the next. Illinois Farm Business Farm Management data from 2003 to 2009 provided a profile of a typical farm likely to require a succession plan. Three farm succession scenarios were entered into the tool to illustrate the complex and individual nature of succession planning while showing how the same instruments are often used in various ways to achieve unique goals.
Issue Date:2011-08-25
Rights Information:Copyright 2011 Anikka A. Martin
Date Available in IDEALS:2011-08-25
Date Deposited:2011-08

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