A foundation for a legacy-driven conversation about succession in a family farm business

Abstract

The purpose of this research was to provide a clear, concise, and hopefully, effective initial process to address the question of transitioning the operation of the farm business through the legacy framework. I have defined legacy as connecting ancestors to descendants, a definition that eases some of the challenges associated with equity and fairness when it comes to intergenerational transfers. The research adopted a case narrative approach, where I focused on my family and my own decision processes in assessing the topic and question of interest. As such, I draw no inferences but hopefully I provide direction to families who are in the same place I find myself. The results from my initial conversations with my children revealed that while they were all aligned in keeping the legacy of the farm, my inability to clearly articulate what that entails might have contributed to some misunderstandings. This research has provided me with new perspectives to reengage them in conversation about legacy within the context I have defined above. I also intend to be deliberate in collecting information that will help me develop a clearer picture of the legacy and the potential solution to protecting it. Because my grandson has expressed interest in what could be a solution, and because that presents its own challenges, future work involves exploring how my children think about addressing any issues they might have if the legacy can be protected by having my grandson farm the land.