Strategic Transition Strategy | Confidential Document that we use to gather information
Farm transition is not just a legal transfer of assets. It is a coordinated financial, tax, and family decision that affects income security, fairness between children, and the long-term viability of the farm.
This analysis gathers essential information so we can:
• Understand the true net value of the farm enterprise • Determine whether the farm can financially support both generations • Identify tax exposure before a transfer occurs • Protect parents’ retirement income • Ensure fairness among farming and non-farming children • Identify insurance or liquidity gaps that could disrupt the transition • Align legal, financial, and operational planning into one coordinated strategy
Every section of this document connects directly to a strategic decision. Without complete and accurate information, succession plans often create unintended tax burdens, family conflict, or cash flow strain.
All information provided is strictly confidential and used solely for strategic planning purposes.
This document forms the foundation of your Strategic Assessment Meeting.
Section 1: Family Unit Identity
Mother's Name (First & Last):
Father's Name (First & Last):
Succession Goals: "1. Transition ownership to next generation... 2. Minimize tax burden... 3. Ensure fair treatment of all children..."
Succession Goals:
Section 2: Part #1 - Farm Enterprise Data (Valuation)
Section 3:
Part #5 - Parents' Income Needs
Section 4:
Part #6 - Farm Affordability (Revenue)
Section 5: Children & Succession Details
Section 6: Key Planning Notes
Current Estate Plan Status (Yes/No/Needs Update):
Wills & Powers of Attorney Current? (Yes/No):
Life Insurance in Place? (Yes/No - Amount: $_______):
Disability Insurance? (Yes/No):
Critical Illness Coverage? (Yes/No):
Section 7: Next Steps
Note: Future income needs are calculated at 25% inflation over 10 years as per succession planning guidelines. This form will be reviewed during your Strategic Assessment meeting.