For older farmers and ranchers, the decision to retire and pass the operation along to the next generation can be a difficult one. Oftentimes, the older generation can find it difficult to give up the power and control they have accumulated over their careers, and may not know what else to do. However, as Nebraska Extension Educator Allan Vyhnalek points out in his work on transition and succession issues, it’s important for the older generations to train and incorporate the younger generations into the operation. And doing so with planning and care, especially in management and decision-making roles.

Read more at https://cap.unl.edu/succession/recognizing-power-and-control-estate-planning.