Farm Succession Planning in Wisconsin: Passing the Farm to the Next Generation

For many Wisconsin families, the farm is more than a business—it’s a legacy. But transitioning that legacy to the next generation can be emotionally and financially challenging. Without proper planning, families often face unnecessary tax burdens, conflict, or even the loss of the operation entirely.

A well-designed farm succession plan protects both the family and the business while honoring your long-term goals.

Why Succession Planning Matters

More than half of Wisconsin farms do not have a written succession plan. This puts the operation at risk if an owner passes away, becomes incapacitated, or retires unexpectedly.

A proper plan helps:

• Ensure a seamless transfer of management and ownership

• Reduce estate and income tax burdens

• Protect on-farm heirs and treat off-farm heirs fairly

• Preserve access to land and equipment

• Prevent disputes among family members

• Provide stability to employees and business partners

Key Tools Used in Farm Succession Planning

Farm succession is rarely a one-size-fits-all process. It often involves a combination of:

• Wills and trusts

• LLCs and business entities

• Buy-sell agreements

• Gifting strategies

• Life insurance planning

• Long-term care considerations

• Transition plans for livestock, crops, and equipment

Addressing Tough Topics Early

Every family has unique dynamics. It’s important to discuss expectations, roles, and goals early in the planning process. Who will manage the farm? How will non-farm heirs be treated fairly? How will mom and dad retire comfortably?

Russell Law Offices helps families navigate these conversations and create a structured plan that balances personal relationships with financial sustainability.

Start the Conversation Today

A strong succession plan takes time—it’s not something to leave until retirement. Whether you're in the early stages of planning or need to update an old plan, our estate and agricultural law attorneys can guide you through next steps.