Inheritance and succession planning acutely impacts family relationships 

By Johnny Klemme 

When it comes to the family farm, inheritance and succession planning, the decisions you face aren’t purely financial — they profoundly impact your family relationships, personal well-being and the legacy you leave behind. It’s normal to wonder, “How do we even begin navigating this?” 

Across thousands of acres and countless farm families I’ve worked with, I’ve found that a clear, thoughtful approach is the best way to help families tackle critical questions in a way that reflects everyone’s goals, priorities and personal circumstances. 

The process starts with truly listening and taking time to hear what the farm and land mean to each family member — without immediately jumping to conclusions or solutions. Next, it’s important to openly acknowledge these differing perspectives, realizing that the farm might represent financial security for some, deep emotional connection for others and identity for those who are actively farming. 

From there, families can begin to name their priorities, clarifying which values — financial, emotional or otherwise — are most important, and why. With these individual and shared priorities identified, you can start exploring various scenarios and develop a series of next steps. 

Options include keeping the farm, diversifying its use, restructuring ownership, leasing or selling. Each path should be evaluated for how it aligns with your family’s overall vision and their individual goals, ensuring practical outcomes for everyone involved. 

However, even with the best intentions, navigating these conversations can be challenging. 

Disagreements may arise, stemming from deeply held beliefs or past family dynamics. It’s essential to approach these moments with empathy and patience, striving for mutual understanding rather than immediate agreement. 

Often, bringing in an experienced advisor or facilitator can help guide discussions constructively, allowing all voices to be heard and respected. 

Additionally, remember that decisions about your farm don’t have to be all-or-nothing choices. Creative, hybrid solutions might offer ways to honor multiple family priorities simultaneously. 

For example, you might lease a portion of the land to maintain steady income, allocate some acres to conservation efforts to preserve sentimental value, and sell or develop/diversify a part of the farm to fund other family goals, buy-outs or legacy projects. Exploring these flexible strategies can create win-win outcomes that align financial sustainability with emotional and agricultural values. 

Successfully navigating farmland inheritance also often involves engaging with a range of experts, such as bankers, accountants and attorneys. These professionals bring specialized knowledge to help you understand tax implications, estate planning strategies, financial structuring and legal frameworks. 

Aligning yourself with trusted advisors not only ensures informed decision-making but also brings confidence and clarity to complex choices. 

Ultimately, by following this intentional process, you’ll be ready to build a strategic plan that genuinely honors your family’s collective priorities, setting a clear direction forward. 

By taking these intentional steps, you’ll make thoughtful, confident decisions that reflect not only the land’s economic value, but its deeper role in your family’s story and legacy. 

Remember: It’s never too early to start having these important conversations — and it’s beneficial to try to discuss the future of your family farm before inheritance becomes an immediate reality. 

Johnny Klemme is a trusted farmland advisor and award-winning real estate professional who has helped farm families navigate the emotional and financial complexities of land and legacy decisions across thousands upon thousands of acres for more than a decade. In his new book, “American Family Farmland: A Landowner’s Guide to Inheriting the Farm,” he delivers a practical roadmap that offers an actionable framework and mindset to navigate the emotional, financial and relational weight of family farmland decisions.