Family owned farms have always been a staple to the American economy and culture. In fact, according to the U.S. Department of Agriculture, 96% of farms in the United States are family owned.

However, the reality is that few farm businesses survive their founders due to a lack of interest or capital from the next generation or, in many instances, the absence of a succession plan. The goal that most parents have for their children to take over the family farm requires more than just dreams. Today, you must have a concrete succession plan to preserve your agricultural legacy. Emphasis on the word “today.”

Andrea D. Foore is assistant vice president/agribusiness loan officer for ACNB Bank.

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.